disney The company has laid off about 300 employees in the latest round of cuts since Chief Executive Officer Josh D’Amaro took over earlier this year, according to people familiar with the matter.
The majority of the cuts were in human resources and technology roles, said the person, who asked not to be identified because he was not authorized to speak publicly.
In April, Disney planned to cut up to 1,000 roles as D’Amaro consolidated its enterprise marketing division, CNBC reported at the time. The company has cut hundreds of employees across its corporate divisions, including Pixar, ESPN, Disney Entertainment Television and Disney Studios, with further layoffs occurring in July, according to various media reports. The majority of these layoffs occurred within Pixar and National Geographic.
Disney warned of recent cutback plans in its August earnings call, saying it was looking at ways to reduce the company’s costs. Around that time, Disney began offering early retirement buyout packages to longtime executives.
“We remain focused on cost reductions across the company to increase our ability to invest in growth, and are evaluating various measures, including reducing labor and selling, general and administrative expenses,” Disney said in the report. “We are in the middle stages of this work and will provide updates on our progress.”
Deadline first reported this latest round of layoffs.
Mr. D’Amaro became Disney’s CEO in March, replacing longtime CEO Bob Iger, and has prioritized a strategy called “One Disney” that aims to strengthen collaboration between the company’s many divisions and bring together compatible businesses.
D’Amaro said the goal is a seamless flywheel that integrates Disney’s intellectual properties across the film, streaming, theme parks, consumer products, gaming and sports sectors.
Disney, like other legacy media companies, is at a tipping point where streaming and digital entertainment overtake the traditional media landscape. To adapt and make new investments, the company has relied on cost-cutting and divisional rationalization.
