Disney Eyes Thousands of Layoffs as Managers Target 20% Cost Cuts Under D'Amaro

Walt Disney Co. is preparing to cut thousands of jobs, directing some managers to achieve 20% annual cost savings through a combination of headcount reductions and other expense controls, according to multiple reports citing people familiar with the matter. The moves, first detailed by Bloomberg on November 2, 2026, come as CEO Josh D'Amaro seeks to deliver on promises of double-digit adjusted EPS growth ahead of the company's fiscal Q4 earnings on November 17. Operations across theme parks, TV networks, and the film studio are expected to be affected disproportionately, though exact numbers remain undisclosed. Disney, which employed 231,000 people at the end of fiscal 2025, has already eliminated thousands of positions and billions in costs in prior rounds, including roughly 1,000 marketing roles in April 2026 and several hundred more in HR and technology divisions later that year. Savings are slated for reinvestment in film/TV programming, technology, and the $60 billion Experiences and cruise expansion. Industry peers including Netflix and Warner Bros. divisions have pursued similar cuts amid streaming pressures and box-office challenges. The stock, trading near $113, remains well below its 2021 peak despite earlier cost initiatives under Bob Iger. Related reporting from Reuters, Variety, and TheWrap confirms the scope and context of ongoing restructuring.