Disney layoffs are affecting hundreds of corporate cast members in another round of a “cost-saving initiative”.
What’s Happening:
- Deadline reports that around 300 individuals are affected by layoffs that have taken place over the last 48 hours and will potentially continue into the days ahead.
- Most of the affected positions are part of Disney’s corporate operations. (i.e. HR, finance, etc.) and are all based in the United States.
- However, divisions such as Parks (Experiences), ESPN, and Disney Entertainment are reportedly not impacted by this current round.
- On July 31st, Disney Entertainment Television faced their own round of layoffs while Pixar reduced its staff in May.
- These cost-cutting measures are within the greater context of the entertainment industry at a great decline. Los Angeles’ once-booming industry has been repeatedly discussed as being dried up at the current moment post-pandemic and last year’s strikes.
- Also notable is that Disney is nearing the end of its fiscal year, with the new one starting next month.
What They’re Saying:
- Disney Spokesperson: “We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney. As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently.”
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