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00:02Disney is planning to cut several thousand jobs,
00:05with some managers being asked to reduce costs by up to 20%, according to CNBC.
00:11The latest plans follow layoffs announced in April and September,
00:15affecting up to 1,300 employees.
00:19In August, CEO Josh DeMauro and CFO Hugh Johnston told shareholders
00:24the company was evaluating ways to reduce costs
00:27and create more capacity to invest in growth.
00:30Disney also introduced an early retirement program for some employees that month.
00:35The company had about 231,000 employees at the end of fiscal 2025.
00:41The entertainment company is among several companies in the industry cutting costs,
00:45including Netflix and Skydance.
00:48Disney will report its fiscal fourth quarter earnings on November 17th.
00:52For all things money, visit Benzinga.com.
