In February, it was announced that Josh D’Amaro would be taking over for Bob Iger as CEO. As D’Amaro takes the reins, it’s being reported that the company is expected to lay off as many as 1,000 of its 231,000 full- and part-time employees via role eliminations. Many of these cuts are expected to come from the marketing team.
This comes less than 3 years after the last time the company had to do mass layoffs in 2023. It came right after Iger came out of retirement to take over the role. After his first successor, Bob Chapek, implemented a disastrous reservation system in the parks, among other things.
The news comes soon after Sony also laid off hundreds of employees to refocus on “strategic priorities.” Though there are obvious concerns, with these announcements being so close together. That economic downturn may be the true cause.
D’Amaro was promoted from being the chairman of Disney Experiences, taking over on March 18th. He was voted in unanimously by the 10 board members, which includes Iger.
We’ll keep you posted on updates about this situation as it develops.
