US media giant Disney is preparing to axe up to 1,000 jobs in the coming weeks, many of them in its marketing departments, according to a report.
The Wall Street Journal (WSJ) said this week the company will eliminate the roles as part of efforts to consolidate its marketing operations across entertainment, experiences and sports. This comes after its entire marketing operation was placed under Asad Ayaz in January.
Job cuts could also come from the combination of Disney+ and Hulu, which had previously been standalone services, into a single app.
This will be one of the first major moves by new CEO Josh D’Amaro, who took the reins from Bob Iger last month. The lay-off plan, however, has been in the works since last autumn, said WSJ. Disney also cut more than 7,000 jobs in 2022 and 2023 following the return of Iger as CEO.
Reports of Disney’s plans come in the same week that Sony Pictures Entertainment said it would be cutting hundreds of jobs as part of a global reorganisation geared towards positioning itself for future growth.
Across the board, there have continued to be cuts over the past few years, with Paramount cutting around 2,000 positions in the wake of its takeover by Skydance last year. There are also expected to be major lay-offs when Paramount Skydance completes its US$111bn takeover of Warner Bros Discovery, which is expected to result in at least US$6bn in cost savings.
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