Disney considers thousands of job cuts amid cost-saving push

Walt Disney is reportedly evaluating thousands of potential job eliminations as part of a broad corporate restructuring effort. People familiar with the matter stated that managers have been instructed to find ways to reduce annual expenses by 20 percent.

The cost-saving measures stem from various business difficulties, including streaming competition, weaker box-office returns, and a slowdown in international theme park visitors. Not every division will face the same level of reduction, as spending reviews will impact operations differently.

Leadership intends to channel the resulting savings into strategic growth initiatives, such as technology, film and television content, cruise operations, and theme parks. The company has previously pursued multiple rounds of workforce reductions throughout the year to control costs and support earnings growth.