Walt Disney new chief executive Josh D'Amaro announced layoffs in an email to employees on Tuesday, as he looks to streamline the company's operations.
The cuts will fall on the marketing group, which was reorganized in January, and other parts of the company, including its studio and television business, at ESPN, products and technology and certain corporate functions, according to a person familiar with the development.
About 1,000 positions will be eliminated, according to the source.
"Given the fast-moving pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow's needs," D'Amaro wrote in an email seen by Reuters. "As a result, we will be eliminating roles in some parts of the company."
Like other Hollywood studios, Disney is adjusting to new economic realities, including a declining television business, shrinking box office and heightened competition.
The last significant round of layoffs came in 2023, when Disney said it would cut 7,000 jobs as part of an effort to save $5.5 billion in costs.
Disney said it had employed approximately 231,000 people as of September, the end of its fiscal year.
The Wall Street Journal first reported the job cuts.
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