Disney cuts about 300 jobs in latest round of layoffs under CEO Josh D'Amaro
Disney announced it is eliminating roughly 300 positions, mainly in human resources and technology, as part of ongoing cost-reduction efforts since CEO Josh D'Amaro took charge.
Disney is eliminating about 300 jobs, primarily in human resources and technology functions, according to a source familiar with the matter. The layoffs are the latest in a series of reductions that began after Josh D'Amaro became chief executive in March. Earlier in the year, the company announced plans to cut up to 1,000 roles as it merged its enterprise marketing division, and in July it reduced staff across corporate units, including Pixar, ESPN, Disney Entertainment Television and its studios, with the largest impact at Pixar and National Geographic.
The company disclosed the most recent cuts in its August earnings report, stating it was reviewing multiple cost-saving measures, including reductions in labor and selling, general and administrative expenses. It also began offering early-retirement buyout packages to senior executives around the same time.
"We remain highly focused on reducing costs across the enterprise to create incremental capacity to invest for growth and are evaluating a variety of levers, including reductions in labor and SG&A," Disney said in the earnings release.
Since assuming the role, D'Amaro has promoted a "One Disney" strategy aimed at aligning the company's various divisions—film, streaming, theme parks, consumer products, gaming and sports—into a more integrated operation.