Disney (DIS) Eyes Thousands of Layoffs With Managers Told to Cut 20%

Some managers across the Walt Disney Company (DIS) have been told to find 20% in annual cost savings, a directive that points to job cuts running into the thousands, according to people familiar with the matter, in reporting published on Tuesday.

The savings drive could include expense reductions, though the full scope of the cost-cutting effort and the precise number of positions affected have not been detailed. The reported 20% target should therefore not be read as a finalized company-wide headcount figure: the account concerns instructions given to some managers, while the total savings and affected positions remain unspecified.

Disney is one of the world's largest entertainment companies, with operations spanning film and television studios, streaming platforms such as Disney+, and a global portfolio of theme parks and resorts. The company has undertaken significant cost-reduction programs in recent years: in February 2023, Disney announced a restructuring targeting $5.5 billion in savings, which included roughly 7,000 job cuts implemented across multiple rounds during that year.

The broader media and entertainment industry has experienced repeated waves of layoffs in recent years as companies adjust to shifting streaming economics and pressure on traditional television revenues. Further company disclosures would clarify whether the latest savings directive leads to a defined headcount plan, and how much of the effort involves non-labor expenses.

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