From The Japan Times · Thomas Buckley · · 1m
Disney targets 20% cost savings with thousands of layoffs
Disney plans thousands of layoffs to hit 20% annual cost savings.
In brief
Disney plans thousands of layoffs to hit 20% annual cost savings. Disney aims for 20% cost savings through thousands of job cuts and expense reductions. Originally reported by The Japan Times.
Disney layoffs plan
Disney plans thousands of layoffs while targeting 20% cost savings.
Cost savings strategy
Savings could come from job eliminations and expense reductions.
CEO's goals
Josh D'Amaro aims to reinvest savings into film, TV, technology and theme parks.
Fiscal year target
Disney promises double-digit growth in adjusted earnings per share this fiscal year.
Recent cuts
Disney has cut billions in costs and eliminated thousands of positions in recent years.
Industry context
Other companies including Netflix and Sony have also cut jobs as streaming growth slows.
CEO statement
Disney President Dana Walden said technology requires constant evaluation of organizational structure.
The short version
Disney aims for 20% cost savings through thousands of job cuts and expense reductions.
