USA 
United Kingdom
The Walt Disney Company has conducted another round of layoffs affecting approximately 300 employees across various corporate departments.
The latest job cuts have impacted departments such as human resources, legal, and finance.
It follows on from a smaller reduction in July when its television division saw about 140 job losses, representing three per cent of that workforce. Additionally, Pixar, a Disney subsidiary, laid off 175 employees in May, which accounted for roughly 14% of its staff.
A Disney spokesperson stated, "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."
New Disney layoffs
The latest layoffs, while significant, are smaller in scale compared to the major workforce reduction Disney implemented in 2023 following Bob Iger's return as CEO. That initiative aimed to eliminate approximately 7,000 positions, affecting about 3.2% of the company's global workforce.
Despite the cost-cutting measures, Disney recently raised its projections for the 2024 fiscal year, which ends in September. The company increased its target for full-year adjusted earnings per share growth from 25% to 30%.
In its most recent quarterly report, Disney exceeded Wall Street expectations for revenue and profit. Notably, the company reported its first profitable quarter for its consolidated direct-to-consumer streaming business, which includes Disney+, Hulu, and ESPN+.
However, the company faces challenges in other areas. Operating profit for Disney's domestic theme parks declined by 6% in the last quarter, and the company has warned that ongoing weak demand could impact the segment's performance in the coming quarters.
As the firm continues to navigate a changing media landscape and economic conditions, further job losses may yet come.
