Walt Disney is preparing to eliminate thousands of jobs as part of a major cost-cutting initiative, with some managers being asked to identify annual savings of up to 20%, Bloomberg reported on Tuesday.
Citing people familiar with internal discussions, the report said the proposed reductions could involve substantial workforce cuts alongside measures to reduce operating expenses across the entertainment conglomerate.
The restructuring is expected to affect different divisions unevenly, potentially impacting operations across Disney’s television networks, film studios, theme parks and other businesses.
According to Bloomberg, Disney Chief Executive Officer Josh D’Amaro intends to redirect part of the savings towards investment in film and television production, technology, theme parks and cruise operations.
The proposed measures come as Disney seeks to strengthen its financial performance while maintaining investment in its entertainment and tourism businesses.
The company has projected double-digit growth in adjusted earnings per share during the current fiscal year, placing additional emphasis on improving profitability and controlling costs.
A Disney spokesperson declined to comment on the reported plans, Bloomberg said.
The latest proposals follow several rounds of restructuring and workforce reductions at Disney in recent years, during which the company eliminated thousands of positions and reduced expenses by billions of dollars.
Previous cost-cutting measures affected major divisions including ABC, Pixar, ESPN, Disney’s film studios and its experiences business, which oversees theme parks and related operations.
Disney employed approximately 231,000 people worldwide at the end of its previous fiscal year, making it one of the largest employers in the global entertainment industry.
The scale, timing and precise distribution of the proposed job cuts have not yet been publicly confirmed.
The reported restructuring reflects Disney’s continuing efforts to balance operational efficiency with investment in content, technology and its expanding theme park and cruise businesses.