Disney is expected to lay off up to 1,000 employees in the coming months due to reduced roles, Variety reported. Many of the job cuts appear to be in the media giant’s marketing division.
Disney declined to comment. As Josh D’Amaro takes over as Disney’s CEO, the company has made the decision to cut its entire workforce of 231,000 full-time and part-time employees. D’Amaro, who previously served as chairman of Disney Experience, was chosen to replace former CEO Bob Iger in early February. The 10 members of Disney’s board of directors, along with Mr. Iger, voted unanimously to appoint Mr. Daramo as CEO. He was officially appointed on March 18th.
Disney is the latest entertainment giant to call for job cuts in the face of near-term economic uncertainty, given issues such as the war with Iran and soaring oil prices. Sony Pictures Entertainment has confirmed that the studio plans to cut hundreds of positions.
The Wall Street Journal first reported on Disney’s layoff plans. The last time the company faced major layoffs was in 2023, after Mr. Iger returned for a second term as CEO, cutting about 7,000 positions. Approximately 76% of Disney’s worldwide workforce is full-time. Approximately 172,000 of them work in the U.S.
D’Amaro began his career at Disneyland in 1998. During his tenure in the Mouse House, he has held a variety of business, marketing and operations positions, including CFO of Disney Consumer Products Global Licensing, President of Disneyland Resort, and President of Walt Disney World Resort. In May 2020, he was promoted to head of Disney Parks and Cruises, Consumer Products, and Walt Disney Imagineering.
