Disney Weighs Thousands of Job Cuts, Seeks Annual Savings of Up to 20% From Some Managers
Key Facts
Disney is considering cutting thousands of jobs and has asked some managers to target annual cost savings of 20%, according to a report Bloomberg carried and Reuters cited on Monday. The report describes a plan under consideration and is not an official announcement of confirmed layoffs. It did not specify how many jobs could be affected or say that the savings target would apply across all company divisions. Disney employed about 231,000 people at the end of fiscal 2025, according to Reuters. The cost-cutting review comes as the company faces pressure across several businesses and markets await its next financial results.
Challenges cited by Reuters include rising use of artificial intelligence, weak box-office revenue and intensifying competition from streaming services, alongside slower international attendance at the company’s parks. The report did not identify all the divisions that could be affected by any cuts, but said some Disney operations could face deeper reductions than others. It said parks, television networks and the film studio were among the businesses that could face larger cuts. That means the savings target set for some managers does not automatically translate into uniform cuts across every segment. Details of implementation and the scale of any workforce impact were not disclosed in the report.
The potential plan would be part of a series of job-cutting rounds at the company. In September 2026, Disney laid off a few hundred employees in human resources and technology, according to Reuters. That followed a reduction of about 1,000 jobs in April; the Associated Press said that round included traditional television, including ESPN, the film studio, product and technology employees, and some corporate roles. The company also cut several hundred jobs in 2025, according to Reuters. These rounds show that cost-cutting efforts have spanned more than one period and division, while the latest report does not disclose a final number of targeted jobs.
Disney cut 7,000 jobs in 2023 as part of a $5.5 billion cost-cutting plan, according to Reuters. The Associated Press said at the time that those jobs represented about 3% of the company’s global workforce. That round followed Bob Iger’s return as chief executive in 2022, when the company cut about 8,000 jobs, according to AP. These figures place the new cost-cutting efforts in the context of a restructuring that has extended over several years, with targets and announced numbers varying across rounds. The latest report does not link the 20% savings target to a specific overall plan or an announced number of employees.
In its fiscal 2026 first-quarter executive commentary, Disney said it expected double-digit growth in adjusted EPS for the year, with growth likely to be concentrated in the second half. That guidance puts the cost-cutting target alongside the company’s earnings commitment, but does not specify how much potential savings would contribute to achieving it. The report said Josh D’Amaro intends to reinvest some of the savings in film and television programs, technology, parks and cruise ships. The plan, according to the report, therefore combines spending cuts in some operations with the redirection of some funds to other businesses. The report gave no amounts allocated to each business or investment timeline.
Disney shares closed at $113.11 on November 2, up from $110.94 on October 30, according to EL7 data. They had closed at $110.23 on October 27, then $109.04 on October 28 and $110.91 on October 29. These closing prices show the stock rising between October 27 and November 2, after falling in the October 28 session. The data provided do not include a broader measure of the stock’s performance or an explanation of its movement during those sessions. This recorded move remains separate from the details of the job-cut plan described in the report.
Disney is scheduled to report fourth-quarter and fiscal 2026 results before the market opens on November 17, according to an announcement from the company’s investor relations department. A live webcast discussing the results will begin at 8:30 a.m. Eastern Time that day. The upcoming date will allow management to present fiscal-year and fourth-quarter results, along with an update to investors on its adjusted EPS growth guidance. The results announcement did not say whether the company would provide further details about the savings plan or jobs that could be affected. The November 17 release is the next scheduled milestone for tracking the company’s performance and guidance.