The Walt Disney Company is eliminating roughly 300 positions in another round of workforce reductions, according to CNBC, marking the third major set of layoffs since Josh D’Amaro became CEO earlier this year.
The latest cuts are concentrated in corporate roles, particularly human resources and technology, not Disney’s entertainment productions, according to Deadline, who was the first to report on the news.
The move comes as Disney continues to lower operating expenses and restructure parts of its business. The company had already indicated that additional reductions could be coming during its August earnings report.
In an August 5 letter to shareholders, D’Amaro and Disney CFO Hugh Johnston said the company was exploring ways to lower expenses, including labor and selling, general and administrative costs, in order “to create incremental capacity to invest for growth.”
D’Amaro has overseen two previous rounds of layoffs since taking over as CEO. Disney cut approximately 1,000 jobs in April as part of a consolidation of its enterprise marketing division, followed by several hundred additional cuts in July, primarily affecting Pixar and National Geographic.
Disney also offered voluntary early-retirement buyout packages in August to some longtime executives to further reduce costs.
Attraction Insight is your one-stop destination for travel news, entertainment updates, and meticulously crafted travel guides.
