Walt Disney Co. is preparing for significant job cuts, with plans to eliminate thousands of positions. The company has directed some managers to aim for a 20% reduction in annual costs, according to sources familiar with the discussions. These cost savings could be achieved through both job eliminations and expense reductions.
The move comes as Disney seeks to streamline its operations amid ongoing financial pressures. The exact number of layoffs has not been disclosed, but the scale suggests a broad restructuring effort. The discussions remain private, with insiders speaking on condition of anonymity.
This development highlights the challenges faced by the entertainment industry as it navigates changing consumer habits and economic uncertainties. Disney's decision to target such a substantial cost reduction indicates a strategic shift to enhance efficiency and sustainability.