Disney plans to lay off thousands of employees and has asked managers to identify ways to cut budgets by 20% through expense reductions, job eliminations, or both. The company aims to reinvest some of the savings in technology, film and TV programming, theme parks, and its cruise ship business. Some operations, including theme parks, TV networks, and movie studios, are expected to be disproportionately affected; details are expected alongside fiscal Q4 results on November 17, 2026. The moves come amid pressure to deliver double-digit growth in adjusted EPS for the current fiscal year, while the stock remains 44% below its 2021 peak.
The plan comes amid pressure on the company’s businesses, as Disney expects double-digit growth in adjusted earnings per share for fiscal 2026 and prepares to report results on November 17.
Read the full storyThe earlier cuts followed a broader 2023 round involving about 7,000 jobs, while there is no independent confirmation of a new layoff plan or a 20% budget-cut target.
Successive rounds of layoffs follow the company’s statement that it was assessing reductions in headcount and administrative expenses, as its shares closed at $110.94 on October 30.