Disney cuts jobs again, mostly in tech and HR
The reductions, reported by Deadline, would be the fourth round of cuts at the company this year.
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Chart: DIS, one-minute prices, three sessions
Disney is cutting jobs again, according to Deadline, which reported the layoffs affect a couple of hundred employees, mostly in technology and human resources roles. Deadline reported that the company's television division, Disney Entertainment Television, is not part of this round.
Disney has not confirmed the cuts publicly. WDW News Today reported that the company declined to comment on them.
The reductions would mark the fourth headcount action at Disney this year, following layoffs in April and July and an early retirement offer for senior executives in August, according to Piratesandprincesses.net. In April, Disney cut about 1,000 jobs, including roughly 8% of Marvel Entertainment's workforce, and a July round hit hundreds of positions across Pixar, ESPN and Disney Entertainment Television, according to WDW News Today. No specific figure for the September cuts has been officially reported.
Inside the Magic reported that Disney's fiscal year ends in late September, and that companies often time reductions to land inside the closing fiscal year rather than carry into the next one. Cuts made this week would show up in the results Disney reports at its next earnings call, expected in November, the outlet reported.
Set against Disney's InterDigital patent injunctions and its fight with the FCC, the latest cuts read as a smaller, internal cost lever rather than a new risk. Management has emphasized revenue growth and margin expansion, including a 13% margin at Disney+ and full-year double-digit guidance, and the layoffs fit that existing efficiency push rather than signaling any change in it.