Disney Offers Early Retirement Packages Amid Ongoing Layoffs

Walt Disney Co. is offering early retirement buyouts to certain executives as part of its cost-cutting measures, according to an internal memo sent to employees.

The 'Voluntary Early Retirement Opportunity' program is a time-limited offer that provides eligible executives with a sweetened retirement package of pay and benefits in recognition of their service and contributions.

The move comes after the company laid off 1,000 roles in April and hundreds more in July, with CEO Josh D'Amaro and CFO Hugh Johnston warning investors earlier this month that further reductions may be coming.

Disney's third fiscal quarter results showed a net income of $2.64 billion, down 49.8% from the previous year, on revenue of $25.25 billion, a 7% increase over the same period last year.