Walt Disney is reportedly planning to cut thousands of jobs as part of its cost-cutting effort. The entertainment giant has asked some managers to reduce annual costs by 20 per cent, according to a Bloomberg report citing people familiar with the matter. The move comes as the company faces several challenges, including growing competition from streaming platforms, weaker box office performance and slower international attendance at its theme parks. Disney is also dealing with the growing use of AI, which is changing the entertainment industry.
According to the report, Disney is looking at reducing costs across different parts of its business. However, some divisions are expected to face deeper cuts than others. The company has not yet revealed how many employees could lose their jobs.
Disney reportedly plans to use some of the money saved through these cuts to invest in other areas. These include film and television content, technology, theme parks and cruise ship operations. The aim is likely to reduce expenses while continuing to invest in businesses that could support its future growth.
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The latest reported job cuts would add to several rounds of layoffs carried out by Disney over the past few years. In September, Reuters reported that the company had laid off a few hundred employees across its human resources and technology teams.
Before that, Disney cut around 1,000 jobs in April. The company also reduced several hundred positions in 2025. One of its biggest rounds of layoffs took place in 2023, when Disney eliminated 7,000 jobs. The move was part of a wider effort under former CEO Bob Iger to save around $5.5 billion in costs.
Disney is not the only entertainment company looking to reduce expenses. Streaming giant Netflix and Skydance have also recently laid off employees. Last month, Netflix announced plans to eliminate nearly 1,000 employees in an internal memo.
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