Disney Continues Restructuring with Hundreds More Layoffs
The Walt Disney Company has continued its restructuring efforts under new CEO Josh D'Amaro, announcing hundreds more layoffs in various divisions. This move follows a voluntary early retirement offer made to employees at or above the director level who are at least 50 years old and have been with the company for a decade.
The recent round of layoffs affects mostly technology and HR divisions, but does not seem to impact Disney Entertainment Television and the motion picture studio. However, those departments are expected to undergo some restructuring soon.
In an August letter to shareholders, D'Amaro and CFO Hugh Johnston emphasized that the company will focus on reducing costs across the enterprise to create capacity for growth, including reductions in labor and SG&A expenses.