Disney Plans Major Workforce Reductions to Lower Operating Costs
(MENAFN) Walt Disney is considering eliminating thousands of jobs as part of a broader effort to reduce expenses, with selected managers reportedly instructed to identify opportunities to achieve annual cost savings of 20%.
The proposed reductions may involve workforce cuts alongside measures to limit operational spending, according to reports citing individuals familiar with the company's internal discussions.
The impact is expected to vary across Disney's business divisions, which include theme parks, television networks and film production studios, with certain units likely to face more substantial reductions.
Chief Executive Officer Josh D'Amaro reportedly plans to redirect part of the savings generated toward strengthening investments in film and television production, technology, theme park operations and cruise businesses.
The entertainment group has also committed to delivering double-digit growth in adjusted earnings per share during the current fiscal year.
Disney declined to comment on the reported cost-cutting strategy, according to reports.
The latest plans follow several rounds of restructuring in recent years, during which the company reduced billions of dollars in expenses and eliminated thousands of positions across various divisions, including ABC, Pixar, ESPN, its movie studio and its experiences business.
Despite the previous workforce reductions, Disney reported having approximately 231,000 employees worldwide at the end of its last fiscal year.
The proposed reductions may involve workforce cuts alongside measures to limit operational spending, according to reports citing individuals familiar with the company's internal discussions.
The impact is expected to vary across Disney's business divisions, which include theme parks, television networks and film production studios, with certain units likely to face more substantial reductions.
Chief Executive Officer Josh D'Amaro reportedly plans to redirect part of the savings generated toward strengthening investments in film and television production, technology, theme park operations and cruise businesses.
The entertainment group has also committed to delivering double-digit growth in adjusted earnings per share during the current fiscal year.
Disney declined to comment on the reported cost-cutting strategy, according to reports.
The latest plans follow several rounds of restructuring in recent years, during which the company reduced billions of dollars in expenses and eliminated thousands of positions across various divisions, including ABC, Pixar, ESPN, its movie studio and its experiences business.
Despite the previous workforce reductions, Disney reported having approximately 231,000 employees worldwide at the end of its last fiscal year.
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