Disney prepares new layoffs, sets teams 20% savings targets
The cuts span TV networks and the film studio, though Disney declined to comment on the timing, per Bloomberg.
Disney is preparing another round of layoffs affecting multiple divisions, including its TV networks and the motion picture studio, according to Bloomberg, which first reported the plans. Managers of the affected teams have been given cost-saving targets, with some asked to reach as much as 20% in annual savings.
Disney declined to comment on the cuts. The exact timing of the new layoffs is unclear.
The company's global headcount stood at just over 230,000 at the end of its most recent fiscal year.
The upcoming round follows a series of reductions over the past year. Roughly 1,000 roles were eliminated in April, and several hundred more were cut in July, with Pixar and National Geographic among the divisions most affected.
Earlier reductions and leadership
In late September, a couple of hundred employees were laid off, largely in tech and HR, and last week another 100-200 employees in the Disney Experiences division were cut, mostly at the Imagineering campus in Glendale. In August, the company extended a Voluntary Early Retirement Offer to longtime executives, a process that has now been completed, and EVP and Chief People Officer Sonia Coleman said in a memo that involuntary reductions had begun in some areas and would continue into next year. Josh D'Amaro took over as CEO from Bob Iger on March 18.
Quick answers
How many people does Disney employ?
Disney's global headcount was just over 230,000 at the end of its most recent fiscal year.
When will the new Disney layoffs take place?
The exact timing of the new layoffs has not been announced. Disney declined to comment.
Which divisions are affected by the cuts?
The new round affects multiple divisions, including TV networks and the motion picture studio.