The Walt Disney Company is reportedly considering thousands of job cuts, according to Bloomberg reporting cited by Reuters. The report says some managers have been asked to identify ways to reduce annual costs by 20%.
The 20% Target Refers to Costs
The reported target concerns annual spending. Disney has not announced plans to eliminate 20% of its workforce. The impact could vary by division. The exact number of positions, affected departments, and timing have not been disclosed.
Savings Could Support Further Investment
According to the report, some savings would be reinvested in film and television programming, technology, theme parks, and the cruise business.
These details come from reporting based on people familiar with the matter, rather than an official Disney announcement. At the time Reuters published its article, Disney had not responded to its request for comment.
Sources
Reuters: Disney eyes thousands of layoffs, asks managers to target 20% savings, Bloomberg News reports
Bloomberg: Disney Eyes Thousands of Layoffs With Managers Asked to Cut 20%
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