The Walt Disney Company is planning a new round of restructuring that includes potential job cuts, according to reports citing individuals familiar with the matter. Managers have been instructed to identify areas to achieve 20% in annual cost savings through both job eliminations and reduced spending.
CEO Josh D'Amaro intends to reinvest a portion of these savings into the company's core areas, including film and TV programming, technology, theme parks, and the cruise ship business. The reports indicate that these measures will impact various divisions disproportionately.
Disney, which employed approximately 231,000 staff at the end of the last fiscal year, has been engaged in multiple rounds of cost-cutting and layoffs in recent years to improve profitability amidst shifting media landscapes and competitive pressures in the streaming and theme park sectors.
