Walt Disney’s new CEO Josh D’Amaro today announced layoffs in an email to employees as he seeks to streamline the company’s operations.
The cuts will primarily affect the marketing department, which was reorganized in January, and other parts of the company, including studio and television operations, at ESPN, products and technology and some corporate functions, according to a person with knowledge of the plans.
About 1,000 jobs will be eliminated, according to the source.
“Given the rapidly evolving pace of our industries, this requires us to constantly evaluate how to foster a more flexible and technologically equipped workforce to meet the needs of tomorrow,” D’Amaro wrote in an email obtained by Reuters.
“As a result, we will be eliminating roles in certain parts of the company.”
Like other Hollywood studios, Disney is adjusting to new economic realities, including declining TV business, shrinking revenues and increased competition.
The last major round of layoffs came in 2023, when Disney announced it would cut 7,000 jobs as part of an effort to save $5.5 billion in costs.
Disney said it employed about 231,000 people through September, at the end of its fiscal year.
The Wall Street Journal first reported the job cuts the company is planning.
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