Disney Plans Thousands of Job Cuts Ahead of November Earnings Report

Disney is reportedly moving toward thousands of job cuts across the company, according to people familiar with the matter. Some managers have been asked to target 20% in annual cost savings through job eliminations, expense reductions, or both.

The 20% figure is a savings goal for some managers' budgets. It does not describe a share of staff or a companywide target, so it cannot be converted into a job count. Disney declined to comment on the report, and no number beyond "thousands" has been reported.

“meaningful reductions to cost, including labor and SG&A”

CEO Josh D'Amaro succeeded Bob Iger on March 18, 2026. He reportedly plans to put part of the savings back into film and TV programming, technology, theme parks, and cruise ships.

Disney has already cut jobs this year. In April, jobs were cut mostly to consolidate marketing. In July, several hundred corporate roles were eliminated, with Pixar and National Geographic hit hardest. About 300 more jobs, mainly in human resources and technology, were cut on September 29.

In late October, Disney made 100 to 200 more cuts in Experiences. A California filing lists 159 permanent layoffs at Walt Disney Imagineering.

Disney shares rose 1.98% during regular trading on November 2 before the report came out. The stock was last quoted at $113.14, giving Disney a market value of roughly $195.36 billion. The stock sits about 3.4% below its 52-week high of $117.09 and is up 0.22% for the year ahead of the November 17 earnings report.

On the August 5 earnings call, CFO Hugh Johnston said the company is looking at "meaningful reductions to cost, including labor and SG&A." Disney has not said which units would be affected, how large any restructuring charge would be, or when the cuts would happen.