Disney is preparing another round of layoffs that could affect thousands of employees across several divisions, including its TV networks and motion picture studio, according to sources cited in reports. The scale of the cuts is expected to vary by division, with some managers reportedly asked to find as much as 20% in annual cost savings. Disney declined to comment, and the timing of the layoffs is unclear.
The company has announced job reductions at several points this year. In April, it planned to eliminate 1,000 roles, followed by several hundred more in July, with Pixar and National Geographic among the divisions most affected. In August, Disney offered voluntary early retirement to longtime executives, a process that has since concluded. Some sources said more eligible managers took the offer than expected.
Disney EVP and Chief People Officer Sonia Coleman said in an August memo that the company was reshaping its organization through several measures, including involuntary staff reductions that had begun in some areas and would continue into next year. A couple of hundred employees were laid off in late September, mainly in technology and human resources, followed last week by a reported 100 to 200 cuts in the Experiences division, most of them at the Imagineering campus in Glendale.
CEO Josh D’Amaro has emphasized cost reductions since taking over from Bob Iger on March 18. At Disney’s latest earnings call, he said savings could be reinvested in growth areas, including new content, guest experiences and technology infrastructure. Disney’s global head count was just over 230,000 at the end of its most recent fiscal year.
Sources: Deadline.