businessLIVE
Disney Plans Several Thousand Layoffs and Asks Managers to Cut Costs Up to 20%
Disney plans several thousand layoffs and has asked some managers to cut costs by up to 20%.
Key points
- Disney is planning to cut several thousand jobs, according to people familiar with the matter who spoke to CNBC.
- Some Disney managers have been asked to reduce costs by up to 20%.
- Disney had about 231,000 employees as of the close of its fiscal year 2025, according to its annual financial report.
Why it matters. The cuts are part of a broader cost-reduction push at Disney under CEO Josh DAmaro, and the company has said it will provide future updates on its progress.
Disney is planning to cut several thousand jobs, and some managers have been asked to reduce costs by up to 20%, people familiar with the matter told CNBC. It follows April plans to cut as many as 1,000 employees, mostly in marketing, and September cuts of about 300. Disney had about 231,000 employees at the close of fiscal 2025, and it reports fiscal fourth-quarter earnings on Nov. 17.
Latest updates
Disney Plans Several Thousand Layoffs and Asks Managers to Cut Costs Up to 20%
Disney expects to lay off several thousand employees in its latest round of job cuts. CNBC reported the plans, citing people familiar with the matter. Some managers at the entertainment company have been asked to reduce costs by as much as 20%. The cuts are part of an effort to control spending at the media and theme park giant. The reporting relies on unnamed sources, and Disney's formal announcement on the scope and timing had not been detailed in the available report.