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00:02Walt Disney is preparing to lay off up to 1,000 employees in the coming weeks under CEO Josh
00:07DeMauro, with cuts focused on its consolidated marketing department according to the Wall
00:11Street Journal. The plans were developed before DeMauro's appointment. The company is merging
00:15Disney Plus and Hulu staff into one app and is working with Bain & Company on cost reductions.
00:20The Walt Disney Code did not immediately respond to Benzinga's request for comments.
00:24DeMauro took over on March 18th and has not outlined detailed restructuring plans,
00:28though sources said he is focused on improving collaboration. Analysts see potential for a
00:32turnaround under DeMauro's leadership as he focuses on fan engagement through technology
00:36and expanding Disney Plus into games and interactive experiences. They also expect
00:40his leadership to improve execution across content, streaming, and theme parks.
00:44For all things money, visit Benzinga.com.
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