Disney Reportedly Cuts Several Hundred Jobs In Entertainment, Corporate Finance: Retail’s Mixed About Latest Round Of Layoffs

The report said the size of the cuts at the film and TV businesses were comparable, and most of the eliminated television staffers are based in Los Angeles.

Walt Disney Co. (DIS) is reportedly cutting jobs, with most of the eliminations at its Entertainment business.

The Entertainment business is among the company's three major business segments. It comprises the media and content businesses, including studios, television, and streaming services.

According to a Deadline report, Disney is in the process of laying off several hundred employees in the marketing department of film and television, television publicity, casting and development, and corporate financial operations. 

The report said the size of the cuts at the film and TV businesses were comparable, and most of the eliminated television staffers are based in Los Angeles. 

In an update to the report, citing sources, Deadline confirmed the executives who are set to leave the company.

The report said this marked the fourth and biggest round of layoffs at the company in the past 10 months. As the traditional media industry struggles to make money, most are cutting costs and investing heavily in more profitable streaming businesses. 

Disney’s entertainment business generated $10.68 billion in revenue, or roughly 45% of the total, in the March quarter and contributed $1.26 billion to the segment's operating income.

The company also guided a double-digit percentage growth in the segment operation for the unit in the fiscal year 2025. It also expects a modest sequential increase in Disney+ subscriptions.

On Stocktwits, retail sentiment toward Disney stock was ‘bearish’ (36/100) by late Monday, and the message volume on the stream was ‘extremely low.’

Some retail traders shrugged off the report, suggesting that reports of the latest layoffs were negligible, given that the company has over 200,000 employees.

However, another user contended that eliminating smaller increments of workers over the years meant a meaningful portion of their corporate workforce has been let go.

Disney stock ended Monday’s session down a marginal 0.08% at $112.95, with the year-to-date gain at 1.4%.

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