New Disney Director Confirms Layoff of Up to 1,000 Workers
Disney CEO Josh D’Amaro confirmed this Tuesday through a memo sent to his workers that layoffs will take place this week, affecting up to 1,000 marketing and brand employees, Variety reported. EFE The cuts come after the creation of a new marketing division and will affect roles in The Walt Disney Company's studios, its television networks, ESPN, as well as product and technology areas and corporate groups, according to the publication.
TL;DR
- Disney CEO Josh D’Amaro confirmed layoffs affecting up to 1,000 marketing and brand employees.
- The cuts are part of a new marketing division and efforts to optimize operations.
- Affected roles are across studios, TV networks, ESPN, product, technology, and corporate groups.
- This is the first major restructuring under D'Amaro, who recently took over.
- Disney previously cut over 8,000 jobs under Bob Iger's return as CEO.
- The company's stock has lost nearly half its value since 2021 highs.