Disney is eliminating approximately 1,000 positions as new CEO Josh D’Amaro moves to streamline operations, he announced in an email to staff Tuesday. The cuts primarily target Disney’s marketing department, which was consolidated under chief marketing and brand officer Asad Ayaz in January, and will also affect employees across studios, television networks, ESPN, products, technology, and corporate functions. D’Amaro, who assumed the CEO role in mid-March, cited the need for a more agile, technology-enabled workforce. Disney’s last major layoffs occurred in 2023, when predecessor Bob Iger eliminated 7,000 jobs to save $5.5 billion.
In-Depth:
Disney is laying off employees as part of an effort to streamline operations, CEO Josh D’Amaro declared in an email to employees on Tuesday.
The cuts come after D’Amaro took over as Disney’s CEO in mid-March.
The entertainment company will cut about 1,000 positions across Disney’s marketing department, according to a source close to the matter. The department was consolidated under Asad Ayaz after he was named chief marketing and brand officer in January.
Ayaz oversees Disney’s enterprise marketing for all of its divisions, including entertainment, experiences and sports. He reports to D’Amaro and Dana Walden, Disney’s president and chief creative officer.
The bulk of the layoffs will affect employees across Disney’s studio, television network, ESPN, products, technology and corporate functions, the source declared.
Disney started notifying employees this week.
“Given the quick-relocating 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,” D’Amaro declared in an email obtained by Reuters.
The last mass layoffs at Disney came in 2023, when the company announced a restructure plan that included eliminating 7,000 jobs to save $5.5 billion in costs.
The cuts were ordered by CEO Bob Iger, who was tquestioned with streamlining operations and reducing costs during a period of indusattemptwide turmoil.
D’Amaro praised Iger’s work on his first day as CEO at Disney’s investor day.
“When Bob returned to the company a few years ago, his goal was to fortify our business and lay the groundwork for long-term growth, by reigniting creativity and improving performance at our studios, building a robust and profitable streaming business, transforming ESPN for a digital future, and turbocharging our parks and experiences,” D’Amaro declared.
“We’ve accomplished all of those things, and we’re operating from a place of strength, with ample opportunity for growth.”
