Business

Disney cuts nearly 300 jobs amid “One Disney” restructuring

The Burbank-based entertainment company’s latest reductions largely affected human-resources and technology teams, while some executives received voluntary retirement offers.

Image credit: Junkyardsparkle / Wikimedia Commons, CC0; archival February 2014 photograph of the Team Disney building in Burbank, not affected employees or this week’s layoffs

Walt Disney Co. laid off nearly 300 workers this week, primarily in its human-resources and technology divisions, the Los Angeles Times reported October 2. Reuters separately reported that the cuts occurred Tuesday and affected a few hundred employees.

What it means locally

The reductions come as Chief Executive Josh D’Amaro, who took over in March, reorganizes the company around a “One Disney” strategy intended to reduce corporate silos and place more emphasis on streaming customers. Disney also separately offered voluntary retirement packages to longer-tenured executives, though the number expected to leave later this year had not been determined. A Disney spokesperson declined to comment to the Times, and the company did not immediately respond to Reuters. The accompanying photograph shows the Team Disney building in Burbank in February 2014 and is archival; it does not depict affected employees or this week’s layoffs.

Full report and further details: Read original report →