Layoffs Loom At Disney

Disney is preparing for a new phase of cost-cutting that is expected to include approximately 1,000 layoffs, primarily impacting its marketing department. The move comes shortly after Josh D’Amaro officially took over as CEO in mid-March, signaling early strategic shifts under his leadership.

The majority of the job cuts are anticipated within the marketing division, which recently underwent a significant consolidation under Asad Ayaz. Ayaz was appointed chief marketing and brand officer in January, a newly created role that brings all of Disney’s entertainment, experiences, and sports marketing units under a single leader for the first time.

This restructuring of the marketing department occurred while Bob Iger was still CEO, preceding D'Amaro's much-anticipated transition into the top role. D'Amaro, previously chairman of Disney Experiences, succeeded Iger after a period of organizational changes and a focus on business turnaround for the media and theme park giant.

Disney's stock experienced a slight dip in afternoon trading Thursday, and the layoffs were initially reported by The Wall Street Journal.

D’Amaro, who previously was chairman of Disney Experiences, succeeded Iger after a period of uncertainty for the media and theme park giant — which had included a succession race and recent reorganization and turnaround of the business.