The Walt Disney Company is planning a workforce reduction impacting approximately 1,000 employees. The layoffs follow a recent change in CEO and are part of a broader restructuring effort. The cuts are expected to primarily affect the company's marketing function. Disney joins other media and entertainment companies that have recently announced layoffs following the appointment of new leadership.
What happened
The Walt Disney Co. is planning to cut around 1,000 jobs. This decision comes shortly after Josh D’Amaro took over as CEO from Bob Iger in March.
How many employees affected
Approximately 1,000 employees will be affected by the layoffs. Disney has a workforce of 231,000.
Why layoffs happened
The layoffs are part of a broader restructuring effort within Disney, particularly impacting the marketing function, which recently underwent consolidation. The company's entertainment, sports, and experiences divisions were unified under a new chief marketing and brand officer.
Company background
The Walt Disney Company is a global entertainment and media conglomerate. Recently, Josh D’Amaro became CEO, succeeding Bob Iger, who had previously served multiple stints as CEO.
Industry impact
Disney's layoffs are part of a larger trend in the media and entertainment industry, where companies are restructuring and reducing their workforces, often following changes in leadership. Other companies, such as Sony Pictures Entertainment and Paramount Skydance, have also implemented layoffs after new CEOs took over.
What's next
The layoffs are expected to begin in the coming months. The company's marketing function will be most affected. The long-term impact of these changes on Disney's operations and performance remains to be seen.
Source: hrexecutive.com