Disney to lay off up to 1,000 workers

The Walt Disney Company, under the leadership of its new CEO Josh D'Amaro, is preparing to eliminate up to 1,000 marketing-related positions across its corporate operations, primarily at its headquarters in Burbank, California, in the coming months. This significant workforce reduction, reported by multiple business outlets, is part of a broader strategic restructuring aimed at streamlining operations and reducing costs following a period of financial pressure and executive transition. The planned layoffs, which represent one of the largest single rounds of job cuts in recent company history, are concentrated within the marketing and consumer insights divisions. The move signals a major shift in how the entertainment conglomerate manages its promotional spending and brand strategy. It follows a company-wide review initiated by D'Amaro, who assumed the CEO role earlier this year with a mandate to improve profitability and operational efficiency, particularly after the costly integration of its direct-to-consumer streaming platforms and challenges in its linear television business. This restructuring reflects broader trends in the media industry, where traditional giants are grappling with the transition from legacy broadcast and cable models to digital streaming. Disney, like its competitors, is seeking to find a sustainable balance between massive content investments for Disney+, Hulu, and ESPN+ and the need for disciplined financial management. The job cuts are expected to be implemented in phases over the next quarter, with the company likely offering severance packages and outplacement services. While painful, analysts suggest such measures are deemed necessary to reallocate resources toward content creation and technology, which are seen as critical for long-term growth in the competitive streaming landscape.