Disney said it is evaluating ways to more effectively manage its resources and costs amid layoff reports.
Walt Disney Co. has initiated a fresh round of layoffs, with corporate employees emerging as the latest victims of the Burbank media and entertainment giant's ongoing $7.5-billion cost-cutting operation. This week, Disney is in the process of eliminating roughly 300 jobs, according to Deadline.
Last year, Disney embarked on a mission to cut 7,000 positions in an effort to reduce costs and turn a profit for its streaming business. With Chief Executive Bob Iger back at the helm, the company worked fast, eliminating 4,000 staff members by April 2023 and increasing its target to 8,000. In May 2024, Disney-owned animation studio Pixar reduced its staff by 14%, or 175 employees, while the famed unit was experiencing a box office slump .
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