Disney to cut about 1,000 jobs, Josh D'Amaro says
Business
Disney is letting go of about 1,000 employees as part of a companywide shakeup to become more agile and tech-focused.
CEO Josh D'Amaro shared the news in an internal memo, saying this move follows plans first announced back in January.
Disney offers support and tiered severance
Disney says it's committed to supporting everyone impacted, offering resources and structured severance packages based on role and years at the company.
For example, nonmanagers with less than five years get four weeks' pay; longer-serving staff receive one week per year (up to a year's worth), while managers and higher-ups have their own tiered packages.