[US] Disney lays off hundreds more workers and offers executives early retirement

In the US, the Walt Disney Company has laid off nearly 300 workers in Burbank, Southern California, this week. The job cuts are the latest wave of an industrywide consolidation, Los Angeles Times reports.

Sources close to the entertainment giant spoke to the LA Times to confirm the cuts. Disney has separately offered early retirement packages for older workers. 

The voluntary early retirement program has reportedly begun, but the number of executives who will leave later this year has yet to be determined, sources said.

The latest layoffs have primarily affected HR and technology divisions. The belt-tightening measures come as part of moves by Disney’s Chief Executive Josh D’Amaro to make his mark on the company and sharpen its focus.

Mr D’Amaro, the former head of Disney’s theme parks, took over from previous CEO Bob Iger in March. He has started organising the company around a “One Disney” approach to break down corporate silos that resulted from each large acquisition, including Disney’s 2019 takeover of much of 21st Century Fox.

Disney’s employees are reportedly expecting further workforce cuts, with many believing a significant television division restructure will take place early next year. This, according to the Wall Street Journal, could result in hundreds more layoffs.

In addition, a recent internal memo by Disney Chief Legal Officer Horacio Gutierrez revealed that Disney’s legal government affairs department will be downsized.

A Disney spokesperson declined to comment on the job losses.

Source: Los Angeles Times

In the US, the Walt Disney Company has laid off nearly 300 workers in Burbank, Southern California, this week. The job cuts are the latest wave of an industrywide consolidation, Los Angeles Times reports.

Sources close to the entertainment giant spoke to the LA Times to confirm the cuts. Disney has separately offered early retirement packages for older workers. 

The voluntary early retirement program has reportedly begun, but the number of executives who will leave later this year has yet to be determined, sources said.

The latest layoffs have primarily affected HR and technology divisions. The belt-tightening measures come as part of moves by Disney’s Chief Executive Josh D’Amaro to make his mark on the company and sharpen its focus.

Mr D’Amaro, the former head of Disney’s theme parks, took over from previous CEO Bob Iger in March. He has started organising the company around a “One Disney” approach to break down corporate silos that resulted from each large acquisition, including Disney’s 2019 takeover of much of 21st Century Fox.

Disney’s employees are reportedly expecting further workforce cuts, with many believing a significant television division restructure will take place early next year. This, according to the Wall Street Journal, could result in hundreds more layoffs.

In addition, a recent internal memo by Disney Chief Legal Officer Horacio Gutierrez revealed that Disney’s legal government affairs department will be downsized.

A Disney spokesperson declined to comment on the job losses.

Source: Los Angeles Times