Walt Disney Company Laying Off Hundreds of Corporate Team Members
In a continuation of cost-saving measures, The Walt Disney Company has initiated another wave of layoffs. Approximately 300 employees are affected by these job cuts, which began Tuesday and are expected to continue into the coming days. This latest round of layoffs adds to the growing number of job losses at Disney in recent months.
Related – Pixar Studios Hit with More Layoffs as Part of Disney’s Company-Wide Cost-Cutting Measures
The recent layoffs at The Walt Disney Company have affected positions across various corporate operations, including legal, HR, finance, and communications. However, divisions such as Parks, ESPN, and Disney Entertainment are not impacted by this round of job cuts.
“We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a Disney spokesperson said in a statement. “As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently.”
The Walt Disney Company has joined other media giants in implementing cost-saving measures through layoffs.Following Paramount Global’s second round of job cuts, Disney initiated its own layoffs on Tuesday, affecting approximately 300 employees.
This latest round of layoffs is part of a broader trend in the media industry as companies grapple with a soft advertising market and the decline of pay-TV. Traditional media companies are facing increasing pressure to cut costs and focus on profitability, particularly in the streaming sector.
In addition to Disney and Paramount, other major media companies like Fox Entertainment and Warner Bros Discovery have also implemented layoffs in recent months. Disney, under the leadership of Bob Iger, has been aggressively cutting costs since his return in late 2022. The company’s first major round of layoffs earlier this year resulted in the elimination of approximately 7,000 jobs.
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