Disney Cuts Hundreds More Jobs as Corporate Streamlining Continues
The Walt Disney Company has announced another round of layoffs as part of its effort to streamline corporate operations and reduce costs. According to a person familiar with the situation, around 200 employees were let go on Tuesday, mostly from human resources and tech departments.
This is the fourth round of layoffs this year, following initial cuts in April that affected over 1,000 jobs. In July, Disney also reduced staff in some corporate functions, including Disney Entertainment Television and film studios. The company's push to automate corporate work has added another dimension to the restructuring.
The goal is to make Disney a leaner operation while investing in strategic areas. CEO Josh D'Amaro has stated that the company aims to operate with speed and agility, improving productivity and efficiency across the board.
In an August shareholder letter, D'Amaro and CFO Hugh Johnston emphasized that Disney was 'mid-stream' in its cost-reduction efforts and hinted at further updates. The company's use of artificial intelligence and other technologies is seen as a key factor in this transformation process.