Disney Plans Significant Layoffs Amid Restructuring Efforts

The Walt Disney Company is preparing for substantial layoffs in the coming weeks, according to sources familiar with the matter. This move follows the company's recent efforts to centralize its marketing operations and streamline management structures. While Disney has not officially commented on the exact number of positions affected, reports suggest that up to 1,000 employees could be impacted. The layoffs are expected to primarily result from the consolidation of Disney's marketing department.

Chief Executive Officer Josh D'Amaro, who assumed leadership last month, has emphasized a unified approach for the company, stating that all global businesses play a role in deepening consumers' relationship with Disney and its characters.

The entertainment giant has been facing challenges such as decreased theatrical revenues, a decline in linear television viewership, and lower profits from its streaming services. Although Disney's theme parks division has been a strong economic driver, the company anticipates challenges in international tourism to its U.S. parks.

These planned job cuts are part of a broader trend in Hollywood, with other major studios also announcing layoffs in response to industry challenges.