Following its marketing restructure, Disney is carrying out layoffs, its CEO confirmed.
Today, Disney CEO Josh D’Amaro sent a memo to employees confirming layoffs were being carried out this week, saying that impacted employees were being notified. As the company looks to streamline operations, it is expected to lay off up to 1,000 employees.
The layoffs follow Disney’s announcement in January that it was restructuring its marketing divisions under Asad Ayaz, the company’s first chief marketing and brand officer. The restructure was aimed at aligning the company’s marketing teams more closely across the business.
Beyond marketing, the company’s studios and TV businesses, ESPN, products and tech, and corporate functions will also be affected, according to reports.
“I know this is hard. Those that will be leaving us have done meaningful work here and care deeply about this company. These decisions are not a reflection of their contributions, or of the overall strength of the company,” D’Amaro said in the memo. “Rather, they reflect our continual evaluation of how to more effectively manage our resources and reinvest in our businesses.”
Despite the layoffs, D’Amaro said he remained “optimistic” about where the company is headed.
“I’m deeply grateful for all of your contributions and for the dedication, professionalism, and care you bring to your work each day. Even in challenging moments, you continue to demonstrate what makes Disney so special,” D’Amaro said.
This is the first large-scale layoff under D’Amaro. It also reflects an ongoing trend in the entertainment industry, with companies such as Sony and CBS recently announcing cuts.
See the full memo below:
Dear Fellow Employees & Cast Members,
