4 days ago
- Business
- New Straits Times
#SHOWBIZ: Disney announces further layoffs amid industry shift
LOS ANGELES: Disney has announced another round of job cuts, affecting several hundred employees worldwide.
In a news report today, the company said that the redundancies will impact staff in its film, television, and finance divisions as it adapts to ongoing changes in the entertainment landscape.
"As our industry evolves rapidly, we continue to look for ways to manage our operations efficiently while driving the creativity and innovation that audiences expect from Disney," a spokesperson was quoted in the report.
This move follows a significant workforce reduction in 2023, when approximately 7,000 jobs were cut as part of CEO Bob Iger's initiative to save US$5.5 billion (RM23.37 billion).
The latest cuts will affect various teams, including marketing, casting, development, and corporate finance. However, the company emphasised that no entire teams will be eliminated.
"We have been surgical in our approach to minimise the number of employees impacted," the spokesperson added.
Disney, which is headquartered in California, employs around 233,000 people globally, with more than 60,000 based outside the United States.
The company owns several major brands, including Marvel, Hulu, and ESPN.
Despite the layoffs, Disney reported stronger-than-expected earnings in May, with revenue reaching US$23.6 billion (RM100.26 billion) for the first quarter of 2025 — a seven per cent increase from the same period in 2024.
Growth was largely driven by a rise in Disney+ subscriptions.
