Walt Disney Company is preparing to cut thousands of jobs as it asks some managers to target annual cost savings of 20%, according to a report in Bloomberg. The savings could include job losses and spending reductions, the report added quoting people who did not wish to be identified because the discussions are private. The impact will vary across the company's businesses.
Some of Disney's operations, which range from theme parks, TV network and the movie studio, will be affected disproportionately. Chief Executive Officer Josh D'Amaro aims to reinvest a portion of the savings into film and TV programming, technology and the theme parks and cruise ship businesses, the Bloomberg report stated.
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The company has pledged double-digit growth in adjusted earnings per share for the current financial year. It has cut billions of dollars in costs and eliminated thousands of roles across businesses including ABC, Pixar, ESPN, its film studio and Experiences division.
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Disney laid off between 100 and 200 Experiences employees on October 28, Deadline reported. Most cuts were at its Imagineering campus in Glendale. The division includes theme parks, resorts and cruise lines.
The reductions follow a voluntary early retirement offer for employees at director level or above who are at least 50 and have worked at Disney for 10 years or more.
D'Amaro has overseen several rounds of cuts since succeeding Bob Iger in March. Disney eliminated 1,000 positions in April, followed by several hundred in July, mainly at Pixar and National Geographic. September cuts affected technology and human resources staff.
Disney employed 231,000 people at the end of its 2025 financial year, including 172,000 in the United States and 59,000 elsewhere. Part-time staff accounted for 16% of its workforce and seasonal employees for 8%.
Experiences reported a 20% rise in profit to more than $3 billion on revenue of almost $10 billion. Global guest numbers increased 4%, while attendance at domestic parks rose 3%. Average ticket revenue per visitor increased 5%.
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