Major Disney Layoffs: 1,000 Jobs Cut in Tech-Driven Shakeup
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Disney is laying off around 1,000 employees as part of a broader strategy to modernize and become more tech-driven. The company's shares rose 1.6% on the day it announced the layoffs, indicating positive investor confidence.
Disney is cutting approximately 1,000 jobs as it reshapes its workforce to be more tech-driven and efficient. The layoffs, announced by CEO Josh D'Amaro, affect various divisions, including enterprise marketing, studios, and television. The company has around 231,000 employees and is adapting to changing consumer habits. The move is part of a larger restructuring effort, following a previous round of 7,000 layoffs in 2023, which aimed to save $5.5 billion in costs. Disney's shares rose 1.6% on the day of the announcement, indicating investor optimism about the company's future. The layoffs are part of a trend among large companies adjusting to new economic realities.
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