Disney Cuts Hundreds Of Jobs Under New CEO Josh D’Amaro In Third Wave Of Layoffs Since Taking Office

Disney is cutting around 300 jobs in its latest round of layoffs under new CEO Josh D'Amaro, extending a companywide cost-reduction drive as the entertainment giant restructures operations and looks for more money to invest in growth.

The majority of the latest cuts are affecting employees in human resources and technology, a person familiar with the matter who was not authorized to discuss the reductions publicly told CNBC. The layoffs mark at least the third significant round of job cuts since D'Amaro succeeded Bob Iger as chief executive in March.

Disney's latest layoffs were first reported by Deadline and follow substantially larger workforce reductions earlier this year. In April, the company moved to eliminate as many as 1,000 positions as D'Amaro consolidated Disney's enterprise marketing operations. Another several hundred jobs were eliminated in July across corporate functions and businesses including Pixar, ESPN, Disney Entertainment Television and the company's studios.

The latest cuts bring the announced or reported reductions under D'Amaro to well over 1,500 positions this year. The newest round is concentrated primarily in HR and technology functions.

In its August earnings report, Disney said it remained "highly focused on reducing costs across the enterprise" to free up additional resources for growth. The company said it was examining several options, including reductions in labor and selling, general and administrative expenses.

Around the same period, Disney began offering voluntary early-retirement packages to some longtime executives, another indication that management was looking for ways to reshape its workforce while reducing expenses.

The restructuring is part of D'Amaro's broader effort to build what he has called "One Disney," a strategy designed to more closely connect the company's sprawling collection of businesses.

D'Amaro wants Disney's movies, television programs and intellectual property to move more seamlessly across streaming, theme parks, consumer products, gaming and sports, effectively creating a flywheel in which successful franchises generate revenue across multiple parts of the company.

That approach comes as Disney and other traditional media giants navigate one of the industry's biggest structural transformations in decades. Linear television continues to lose viewers to streaming and digital platforms, while companies are spending heavily on technology, sports rights, streaming content, and other areas expected to drive future growth.

Disney's financial results have shown signs of progress. In its fiscal third quarter, the company reported revenue of $25.25 billion and earnings of $2.64 billion, with a profit margin of roughly 10.5%.

But Wall Street remains focused on whether Disney can translate those improvements into sustained growth. Disney shares have recovered substantially from their summer lows but remain below their 52-week high. The stock's 52-week range is roughly $92.19 to $117.09, leaving shares about 10% below their recent peak