Disney plans 20% cost cuts with CEO D'Amaro leading layoffs
Business
Disney is gearing up for major layoffs as part of a plan to slash expenses by 20%.
CEO Josh D'Amaro is leading the charge, aiming to free up cash for Disney's movies, streaming platforms, tech upgrades, theme parks, and cruises.
The move is all about staying competitive and fueling future growth, even if it means tough decisions now.
ABC, Pixar and ESPN faced reductions
This isn't Disney's first round of cuts: reductions have affected ABC, Pixar, and ESPN.
The entertainment industry as a whole is feeling the squeeze too; companies like Netflix and Warner Bros. are also trimming staff as traditional TV revenue drops and streaming growth slows down.
Despite all this, Disney says it's still pushing for double-digit earnings growth this year.