Disney has announced another round of layoffs in the United States as part of its ongoing cost-cutting efforts. According to Deadline, this latest wave of job cuts has affected nearly 300 employees, with more reductions expected in the near future. The impacted roles are spread across Disney’s corporate departments, including legal, HR, finance, and communications. Other segments, such as ESPN, parks, and Disney Entertainment, are currently unaffected.
“We continually assess how to best invest in our businesses and manage our resources more efficiently to support the innovative creativity that consumers associate with Disney,” a company spokesperson told Deadline. “As part of this optimization, we have been reviewing the cost structure at our corporate level and identified areas for increased efficiency.”
The latest announcement follows Disney’s decision earlier this year to cut 140 jobs in its television division, amounting to nearly 2% of the staff at Disney Entertainment Television. In May, its Pixar division laid off 175 employees, or 14% of its workforce.
Disney has been grappling with multiple box office disappointments, such as Elemental and Indiana Jones and the Dial of Destiny. Despite attempts to mitigate losses through increased Disney+ subscription prices, the streaming service remains under pressure. Additionally, the company’s theme parks are still struggling in the aftermath of the COVID-19 pandemic and rising inflation.
“The costs of running the theme parks will keep rising, putting pressure on executives to adapt their strategies for growth,” Christina Curtis, founder of Curtis Leadership Consulting, shared with Newsweek.
Since his return in 2022, CEO Bob Iger has overseen the elimination of more than 8,000 positions to reduce costs by $7.5 billion. During a November earnings call, Iger addressed the company’s creative challenges, noting that the pandemic disrupted Disney’s operations and led to an overemphasis on quantity over quality. “We lost some focus,” Iger admitted, acknowledging the challenges the entertainment giant has faced in recent years.
