Okay, we have to talk about this again. It feels like every single week there’s another headline about Disney layoffs. Last week it was Imagineering. Before that, it was the TV division. And now? A new report says Disney is gearing up for thousands more job cuts.
We’re not going to lie, it’s exhausting. And it’s really sad. These are real people with families, and a lot of them are seriously talented folks who help make the Disney magic we all love.
Here’s What the Report Says
According to Bloomberg, Disney is moving toward thousands of job cuts, and some managers have been asked to aim for 20% in annual cost savings. Twenty percent! That’s a lot.
The people who talked to Bloomberg didn’t want their names out there since these talks are private. They said the savings could come from cutting jobs, cutting expenses, or both. And when Bloomberg reached out, a Disney rep declined to comment.
Who’s Going to Get Hit?
That’s the scary part. Disney is huge. We’re talking theme parks, TV networks, the movie studio, all of it. The report says some of those areas will be hit harder than others, but it didn’t say which ones.
So yeah, if you’re a parks fan, it’s hard not to worry a little.
Where’s the Money Going?
Here’s one detail that might make parks fans pay attention. CEO Josh D’Amaro reportedly wants to put some of those savings back into film and TV programming, technology, the theme parks, and Disney Cruise Line.
So some of the money could end up going back into the stuff we love. That’s something. But it doesn’t make it any easier for the people losing their jobs.
Disney’s Making Promises to Investors
The report also mentions that Disney has promised double-digit growth in adjusted earnings per share this fiscal year. Translation: Disney promised investors it’ll make a lot more money. And cutting costs is one way to do that.
Which, honestly, is kind of the whole point of this. Disney is a business, and businesses look out for themselves.
This Has Been Going On for a While
If it feels like Disney layoffs never stop, you’re not wrong. Over the last few years, Disney has cut billions of dollars in costs and gotten rid of thousands of jobs. Every division has been hit, including ABC, Pixar, ESPN, the film studios, and Disney Experiences.
At the end of last fiscal year, Disney had about 231,000 employees around the world.
Back on October 1, The Wall Street Journal reported Disney was planning to restructure its TV division and make cuts to its legal and global affairs team. Then just last week, layoffs hit Walt Disney Imagineering in Glendale. And now this.
Remember What Dana Walden Said?
This whole “constant layoffs” thing actually came up last month. At the Bloomberg Screentime conference in Los Angeles, Disney President and Chief Creative Officer Dana Walden got asked by Lucas Shaw why it feels like Disney is cutting people and restructuring every six months.
Her response? She called it “the snarkiest possible version of this question” and said Disney isn’t firing people every six months. She also pointed out that Warner Bros. Discovery and Paramount have made cuts too.
Then she said that “there is a need to constantly evaluate how you’re structured and how big is the organization. Technology set their sights on our business, and we must survive and thrive and grow, and that’s what we’re going to do.”
It’s Happening Everywhere
To be fair, Disney isn’t the only one. Netflix, Sony Pictures Entertainment, Paramount, and Warner Bros. have all cut jobs too. TV money is going down, streaming growth is slowing, and people are spending way more time on social media and watching stuff from Amazon and Apple.
Disney Isn’t Our Friend
Here’s the hard truth. As much as we love Disney, it’s not our friend. It’s a company. It makes decisions based on money, not feelings.
And that’s okay to admit. You can still love the parks, the movies, and the memories while being frustrated with how the company treats the people who make all of it happen. Both things can be true.
Our hearts go out to everyone who might be affected.
So how are you feeling about all these layoffs?
