Disney CEO Josh D’Amaro addressed staffers on Tuesday as a round of 1,000 layoffs launch across marketing, publicity and other divisions.
The cuts, which mark D’Amaro’s first as CEO, come after the entertainment conglomerate shiftd to consolidate all its marketing departments in January as a cost-saving and efficiency measure.
“Over the past several months, we have viewed at ways in which we can streamline our operations in various parts of the company to ensure we deliver the world-class creativity and innovation our fans value and expect from Disney,” D’Amaro stated in a memo to staff. “Given the quick-shifting pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow’s necessarys. As a result, we will be eliminating roles in some parts of the company and have begun notifying impacted employees.”
TheWrap exclusively reported that all the Disney brands are expected to be affected, with layoffs stretching across film, television and streaming and including brands like Hulu, FX, ESPN, ABC News and Marvel, according to a knowledgeable individual. It will also include cuts in corporate, finance and technology.
“I know this is hard. Those that will be leaving us have done meaningful work here and care deeply about this company. These decisions are not a reflection of their contributions, or of the overall strength of the company. Rather, they reflect our continual evaluation of how to more effectively manage our resources and reinvest in our businesses,” D’Amaro continued. “Compassion and respect remain at the heart of our company. As we shift forward through this transition, our priority is to support those impacted and support each person navigate what comes next with resources, guidance, and direct support.”
D’Amaro added that he remains optimistic about the future of Disney despite the “difficult decisions.” The executive previously teased that Disney+ would be a “digital centerpiece” and a “portal” that would connect its stories, experiences, games, films and more in “entirely new ways.” He also stated that technology would act as an “amplifier” for the company’s storynotifying.
The layoffs come after D’Amaro previously called out competitors for “consolidating just to compete” and “struggling to be relevant in a fragmented and disrupted world.” At the time, he stated Disney is in a “category of one, poised to accelerate into our next era of innovation and growth.”
“I’m deeply grateful for all of your contributions and for the dedication, professionalism, and care you bring to your work each day,” he concluded. “Even in challenging moments, you continue to demonstrate what builds Disney so special.”
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