Disney plans several thousand layoffs, asks some managers to cut costs by up to 20%

Summary

• Disney plans to cut several thousand jobs, according to people familiar with the matter.
• Some managers have been asked to reduce costs by up to 20%.
• This follows previous layoffs in April targeting up to 1,000 marketing employees and in September targeting about 300 human resources and technology staff.
• CEO Josh D'Amaro and CFO Hugh Johnston stated in an August 5 letter that the company is focused on reducing costs to create capacity for growth.
• Chief People Officer Sonia Coleman confirmed in an August 24 letter that involuntary staff reductions have begun and will continue into next year.
• Disney introduced an early retirement program in August as part of its organizational reshaping efforts.
• The company had approximately 231,000 employees as of the close of fiscal year 2025.
• Netflix announced plans to lay off roughly 6% of its workforce, while Skydance is expected to cut staff to realize $6 billion in synergies.
• Disney is scheduled to report its fiscal fourth-quarter earnings on November 17.