Disney has just laid off even more employees, this time in the corporate sector. Deadline is reporting that about 300 people have been laid off since Tuesday and will continue until at least today.
All the layoffs are in positions based in the United States across the company’s operations departments, reportedly impacting ” legal, HR, finance, and communications.” The theme parks, Disney Entertainment, and ESPN are not receiving cuts this round, but that does not mean they couldn’t at a later date.
Disney Entertainment has received a lot of the cuts and just had a round of layoffs almost two months ago. Pixar and ABC also received cuts this year.
Deadline said a Disney spokesperson gave this statement about the layoffs,
“We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney. As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently.”
Layoffs are happening across Hollywood.
Streaming services have exceeded consumer demand. Skyrocketing costs for new content, declining demand, increased payouts from last year’s strike agreements, and a terrible 2023 box office have seemingly led to substantial financial strain in Hollywood.
This year has been a year of constriction, with several studios, including Paramount, Fox, Warner Bros, and Disney, laying off employees.
Disney is seeing an uptick in its theatrical profits, but after its disastrous 2023 run, it is just digging itself out of the hole.
Theme park attendance is also down, with numerous outlets reporting low wait times and crowds. Disney needs every penny they can get now, so it was only a matter of time till corporate staffers were also impacted.
Hopefully, the cuts will end soon.
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