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Disney spokesperson confirmed the action on Tuesday.
The exact number of jobs being cut is unknown, but layoffs will
occur across several divisions, including television and film
marketing, TV publicity, casting and development, and corporate
financial operations.
No entire teams will be eliminated.
“As our industry transforms at a rapid pace, we continue to
evaluate ways to efficiently manage our businesses while fueling
the state-of-the-art creativity and innovation that consumers
value and expect from Disney,” the spokesperson said. “As part
of this ongoing work, we have identified opportunities to
operate more efficiently and are eliminating a limited number of
positions.”
Last month Disney posted solid profits and revenue in the second
quarter as its domestic theme parks thrived and the company
added well over a million subscribers to its streaming service.
The company also boosted its profit expectations for the year.
Disney's also been riding a wave of box office hits, including “Thunderbolts(asterisk)”
and “Lilo & Stitch," which is now the second-highest grossing
movie of the year with $280.1 million in domestic ticket sales.
In 2023 Disney CEO Bob Iger announced that Disney would cut
about 7,000 jobs as part of an ambitious companywide
cost-savings plan and “strategic reorganization.” Disney said at
the time that the job reductions were part of a targeted $5.5
billion cost savings across the company.
Shares of Disney, which is based in Burbank, California, rose
slightly in midday trading.
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