The company continues its cost-cutting strategy under a new CEO.
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The company continues its cost-cutting strategy under a new CEO.
The Walt Disney Company laid off approximately 300 employees this week, continuing a series of workforce reductions that began earlier this year.
A source, who was not authorized to speak publicly, told Business News that most of the recent cuts were in human resources and technology positions.
Deadline was the first outlet to report this latest round of layoffs.
These layoffs follow earlier cuts initiated since Josh D'Amaro became CEO. In April, up to 1,000 roles were slated for elimination as D'Amaro consolidated parts of the marketing division.
A further round of 'several hundred' job cuts occurred in July, primarily at Pixar and National Geographic, with reductions also at ESPN, Disney Entertainment, and other corporate studios.
The company signaled the recent cuts in an August earnings report, stating it was evaluating cost reductions, including labor, to free up resources.
Alongside layoffs, Disney has offered early-retirement packages to some longtime executives as another way to cut costs.
The company described its efforts as 'mid-stream' in its earnings report, promising future updates on its progress toward reducing operating expenses.
2 independent outlets filed 3 reports within the same hour.
Disney warned about the most recent round of cuts in its August earnings report as one of the levers it was evaluating to reduce costs at the company.
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