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Disney President Says Layoffs 'Extremely Painful' but Necessary
The cuts follow about 1,000 layoffs in April as Disney continues to trim costs amid streaming competition and cheaper AI production tools.
- Over 300 employees from Disney's human resources and IT divisions were laid off on Tuesday, with Disney President Dana Walden saying Thursday the cuts were "extremely painful" but necessary for survival.
- CEO Josh D'Amaro's April arrival triggered around 1,000 cuts as Disney battles intense streaming competition and cheaper AI production alternatives, with the company introducing a voluntary retirement offer earlier this week.
- Restructuring centralizes Disney's acquired businesses into a unified television operation rather than separate silos, with Walden stating the company is a series of "amazing acquisitions" that "didn't make sense long term as the business evolved."
- The company offered select executives "the opportunity to make their own decision around whether the timing was right to leave or to stay" through a voluntary retirement plan, though it remains unclear if the latest layoffs utilized this option.
- Technology competitors now target entertainment, prompting Walden to state "we must survive and thrive and grow," though she acknowledged Disney does not currently lead industry efficiency efforts among rivals.
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The president of Walt Disney Company, Dana Walden, spoke on Thursday (1st) about resignations in the company and said that a constant restructuring is necessary for the survival of the industry. "It's extremely painful," Dana described at the Bloomberg Screentime conference in Los Angeles. The company has been cutting employees in recent years. According to specialized vehicles, about a thousand employees left Disney in April, after the arrival …
·Rio de Janeiro, Brazil
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"It's Extremely Painful": Disney President Judges Layoffs Necessary for the Survival of the Industry
In an interview with Bloomberg, Dana Walden stated that constant restructuring was the norm in this type of industry.
·Paris, France
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Total News Sources11
Leaning Left1Leaning Right4Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
13%
C 37%
R 50%
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