Disney Begins Largest Layoff Wave Amid Streaming Shift

The Walt Disney Company is conducting its fourth and largest wave of layoffs in the past ten months, affecting several hundred employees worldwide in film, television, and corporate finance divisions. This move is part of CEO Bob Iger’s plan to streamline operations and achieve at least $7.5 billion in cost savings, with no entire teams being eliminated. Notable executives such as Eric Souliere of 20th Television and Tony Tompson of Hulu Originals are among those let go. The layoffs target marketing, publicity, casting, and development teams, both in the U.S. and internationally. Despite these cuts, Disney reported a 7% revenue increase to $23.6 billion last quarter, driven primarily by streaming growth. The company states the layoffs are 'surgical' to limit disruption while supporting innovation and direct-to-consumer expansion.