Disney Lays Off Hundreds Across Film and TV Divisions Amid Ongoing Cost-Cutting Push Disney is slashing jobs in major departments like marketing, development, and finance as part of a continued effort to streamline operations.
The Walt Disney Company is laying off hundreds of employees across its TV and film departments as part of an effort to cut costs, according to CBS News.
This is the latest in a series of workforce reductions for the entertainment giant. In April 2023, Disney cut 7,000 jobs—roughly 3% of its global workforce—as CEO Bob Iger aimed to reduce expenses by $5.5 billion during what he described as a "significant transition."
More recently, in March, the Burbank, California company laid off 200 employees in its ABC News and entertainment TV networks.
The latest round of cuts will affect key areas of the company, including film and television marketing, TV publicity, casting and development, and corporate financial operations. While the exact number of layoffs has not been disclosed, sources say the scale is comparable to previous downsizing in Disney’s entertainment units. No entire teams are being eliminated.
Disney, a dominant force in the media industry, owns major properties such as Marvel, Hulu, ABC News, and ESPN.
The layoffs come just weeks after Disney reported $23.6 billion in revenue for its second fiscal quarter—a 7% increase year-over-year.
"Overall, we remain optimistic about the direction of the company and our outlook for the remainder of the fiscal year," Iger said in a statement.
Following the layoff news, Disney shares dipped slightly, down 0.4% as of Monday afternoon.
