Disney Slashes 300 Jobs Amid Industry-Wide Consolidation

Walt Disney Co. has laid off nearly 300 workers in its latest round of cuts, affecting mostly human resources and technology divisions. The move comes as CEO Josh D'Amaro tries to put his stamp on the company and streamline operations.

The layoffs are part of a broader industry trend, with traditional studios and TV networks shedding tens of thousands of jobs after the streaming bubble burst. Disney's cuts also come as it prepares for further restructuring in its television division early next year, which could result in hundreds more layoffs.

Disney is also offering older workers voluntary retirement packages, with CEO Dana Walden describing the program as 'generous' and giving executives agency to decide whether to leave or stay. The move is seen as a way to adapt to changing consumer patterns and the shift towards streaming services like Disney+.