According to a Reuters report, Disney is preparing to conduct mass layoffs that will affect hundreds of employees across various departments, including film and TV, publicity, casting, development, and corporate finance.
Reps for the entertainment company have declined to comment, and no exact numbers have been released yet.
This is just the latest in a series of layoffs over recent years. Disney laid off nearly 200 television and ABC News operations employees earlier this year after cutting ABC News and local station staff in October. In September 2024, an additional 300 people were let go, per Variety.
Disney cut 7,000 jobs in 2023 alone as it tried to save $5.5 billion in costs, Reuters reported.
During layoffs in 2023, company CEO Bob Iger said, “There will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward.”
“In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world, now, and long into the future,” he continued.
Critics are quick to point out that Disney has had several big-budget flops recently, including the latest disaster, “Snow White.” The live-action remake is estimated to have cost the company approximately $115 million, based on a $410 million budget, including marketing, but it only earned a worldwide box office gross of $194.7 million.
The film had multiple controversies, including a total change to the storyline and controversial statements made by Rachel Zegler, the actress playing the titular role.
Many fans blame Disney’s downfall on increasingly leftist messaging, which Iger addressed during a shareholder meeting last April. When asked about Disney’s “wokeness,” the exec replied, “I’m sensitive to that.”
“Our primary mission needs to be to entertain and then through our entertainment to continue to have a positive impact on the world. And I’m very serious about that. It should not be agenda-driven,” Iger added.