Disney plans several thousand job cuts as cost push intensifies

What the new cuts signal

Disney is readying another round of layoffs in the thousands, according to people who spoke to CNBC on condition of anonymity, with Bloomberg first flagging the latest move. It is the newest downsizing step since CEO Josh D'Amaro stepped in earlier this year.

Writing to shareholders on Aug. 5, D'Amaro and CFO Hugh Johnston wrote, "We remain highly focused on reducing costs across the enterprise to create incremental capacity to invest for growth and are evaluating a variety of levers," adding, "We are mid-stream in this work and will provide future updates on our progress."

How Disney has been reshaping its workforce

Earlier, in April, the company laid out distinct plans to cut up to 1,000 jobs, mostly in marketing, and another roughly 300 in September, many in human resources and technology. In August, the company also laid out an early retirement option for some employees.

Chief People Officer Sonia Coleman told employees on Aug. 24, "This is one of several actions we're taking to reshape our organization, including involuntary staff reductions that have already begun in some areas and will continue into next year." Alongside headcount changes, some managers have been asked to trim costs by up to 20%.

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The broader media cost reset and what to watch next

Disney counted about 231,000 employees at the close of fiscal 2025 in September, per its annual report, and will report fiscal fourth quarter earnings on Nov. 17. Across the industry, a memo from Netflix last month said it would cut about 6% of its workforce, and Skydance, the newly merged entity bringing together Paramount and Warner Bros. Discovery, is expected to reduce staff as it targets 6 billion dollars in synergies over three years.

Why it matters: further details on savings and staffing on Nov. 17 will help frame where margins and cash generation could head next, which is what ultimately drives how you value the stock.

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