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Disney President Dana Walden said the company's recent layoffs were extremely painful but necessary for survival. More than 300 people were cut on Tuesday, following about 1,000 job eliminations in April.
Disney President Dana Walden said Thursday that the company's recent layoffs were extremely painful but necessary for its survival. Speaking at the Bloomberg Screentime conference in Los Angeles, Walden described the cuts as a harsh reality.
More than 300 people were laid off from Disney on Tuesday, according to U.S. media reports. Most of those affected work in human resources and information technology. The latest cuts follow the elimination of around 1,000 positions in April, primarily across the company's marketing group. Trade media reported those cuts came after the arrival of new chief executive Josh D'Amaro.
Voluntary Retirement Offered To Executives
Walden said the company also offered a group of executives the opportunity to make their own decision around whether the timing was right to leave or to stay. That offer was part of a voluntary retirement plan. It remains unclear if the latest wave of layoffs made use of the voluntary retirement initiative. Disney did not immediately reply to a request for comment.
We've exited colleagues who I've worked with for most of my career, Walden said. It is in many ways a harsh reality. It is extremely painful, she added. The Walt Disney Company has carried out several rounds of cost cutting measures in recent years.
The company is trying to combat intense competition in streaming. Advances in AI tools have also become a cheaper production alternative for the billion-dollar company. Walden said there is a need to constantly evaluate how you're structured. Technology set their sights on our business, and we must survive and thrive and grow, she said.
Disney Layoffs Reflect Broader Media Pressures
And that's what we're going to do. Disney's layoffs reflect broader pressures facing media and technology companies. Streaming competition remains fierce, and AI production tools are changing how content is made. The April cuts primarily hit the marketing group.
The Tuesday cuts focused on human resources and information technology. Together, the two rounds represent more than 1,300 positions eliminated this year. Walden's comments came during a public appearance at the Bloomberg Screentime conference. She did not specify how many more cuts might come or when.
Disney has not publicly confirmed the exact number of layoffs beyond media reports. The company also has not detailed how the voluntary retirement plan affected the total. The layoffs are part of a broader effort to reduce costs and restructure operations. Disney has faced pressure to make its streaming business profitable while traditional media revenues decline.
Walden Says Adaptation Necessary For Survival
Walden said the company must adapt to survive. She described the decisions as painful but necessary for the company's future. The Walt Disney Company did not immediately reply to a request for comment. The company has not announced any additional layoffs beyond those reported.
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CTVNews:This story was compiled and edited by the HeadTopics newsroom and HT AI from the reports above.
Disney Layoffs Dana Walden Walt Disney Company Streaming Competition AI Production Tools
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