Disney continues with its cost-cutting efforts. This week, 300 jobs were cut from The Walt Disney Company corporate operations, which are based in Burbank, California. The layoffs began on Thursday.
“We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a Disney spokesperson said in a statement to Deadline. “As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently.”
These new cuts were expected to cover several different departments including legal, human resources, finance, and communications. It is the newest round of cuts for the company. Last year, Disney said it was aiming to cut 7,000 jobs from its ranks as part of a massive cost-cutting effort. This target was later moved to 8,000 jobs.
Earlier this year, Pixar cut 175 jobs as well. This made up 14% of its staff. Disney Entertainment Television also cut 2% of its staff, amounting to 140 jobs. These cuts were particularly focused on National Geographic.
In general, Hollywood studios have been cutting costs. This comes after overspending in efforts to compete in the streaming wars. The studios have begun to focus on quality now instead of quantity, including Disney.
