Disney To Lay Off Up To 1,000 Employees In First Cuts Under New CEO Josh D’Amaro

The Walt Disney Company, under its new CEO Josh D'Amaro, is planning to lay off up to 1,000 employees globally over the next few months, as confirmed by Deadline. These are the first significant workforce reductions announced since D'Amaro assumed leadership of the entertainment conglomerate, which currently employs over 230,000 people worldwide. The move is part of a broader strategic review and cost-cutting initiative as the company navigates a challenging post-pandemic economic landscape and shifting media consumption habits. The layoffs, while representing less than half a percent of Disney's total workforce, signal a decisive shift in corporate strategy under its new leadership. The cuts are expected to be implemented across various divisions, though specific departments have not yet been publicly identified. This restructuring comes as Disney, like many media companies, faces pressure from investors to streamline operations and improve profitability, particularly after significant investments in its direct-to-consumer streaming platforms like Disney+, Hulu, and ESPN+. The announcement reflects the ongoing transformation within the entertainment industry, where traditional revenue models are being disrupted by digital streaming. Disney has been aggressively expanding its streaming services while simultaneously managing legacy television networks and theme park operations that were heavily impacted by COVID-19 restrictions. These layoffs suggest the company is entering a new phase of operational efficiency as it balances content investment with financial discipline in an increasingly competitive market.