Disney CEO Josh D’Amaro announced in a company-wide memo Tuesday that the company is laying off around 1,000 employees.
In the note, D’Amaro said the cuts would “streamline our operations” and allow the company to “serve consumers in an even more connected way,” according to Business Insider.
He wrote that the “fast-moving pace of our industries” requires Disney to “foster a more agile and technologically-enabled workforce to meet tomorrow’s needs.”
“I know this is hard,” D’Amaro wrote. “These decisions are not a reflection of their contributions, or the overall strength of the company. Rather, they reflect our continual evaluation of how to more effectively manage our resources and reinvest in our businesses.”
The cuts are expected to impact product and technology, a few corporate roles, the movie studio and traditional television sectors, according to The Associated Press.
Marvel Studios was reportedly hit the hardest, with impacts on areas in film and TV production, comics, franchise, finance and legal. According to Forbes, the layoffs hit artists, illustrators, character designers, environment designers and other technical specialists — many of whom had been with the company for at least a decade.
Forbes also reported that the Marvel layoffs are reportedly connected to previously announced cutbacks and the integration of AI.
Disney shares rose 1.6% Tuesday following the news. While the company’s stock is up 21% over the last year, it remains lower than it was a decade ago, losing about 45% of its value in the last five years, according to Business Insider.
The company’s last major workforce cut occurred in 2023, when it dismissed roughly 7,000 employees following Bob Iger’s return as CEO, according to CNBC.
This marks the first major move for D’Amaro since he succeeded Iger as CEO on March 18. D’Amaro, who joined Disney in 1998, previously served as the chairman of Disney Experiences, as previously reported by the Deseret News.
As of late 2025, Disney reported having 231,000 full- and part-time employees.