Disney Layoffs Could Hit Thousands, With Some Managers Told to Cut 20%

Disney layoffs could run into the thousands, according to a Bloomberg report. Some managers were reportedly asked to target 20% in annual cost savings. However, CEO Josh D’Amaro plans to reinvest part of the savings into content, parks, cruises, and technology. The size of that reinvestment may shape how much Disney shareholders see in earnings. A Year of Smaller Cuts Gives Way to a Bigger Plan The plan comes after a year of smaller, targeted cuts at the entertainment company. Disney eliminated about 1,000 positions in April and several hundred more in July. In September , it laid off a few hundred workers in human resources and technology. Separately, The Wall Street Journal reported on October 1 that Disney planned to restructure its TV division.

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