Disney is preparing to cut several thousand jobs, people familiar with the plans told CNBC, with some managers asked to lower costs by as much as 20%. Bloomberg first reported the move. It would be the largest round of layoffs since Josh D’Amaro became CEO earlier this year. Disney announced up to 1,000 cuts in April, mostly in marketing, and about 300 more in September across human resources and technology. In an August letter to shareholders, D’Amaro and CFO Hugh Johnston said the company was looking at several ways to reduce spending and free up money for growth. Disney also launched an early retirement offer that month. The company had about 231,000 employees at the end of fiscal 2025. Netflix said last month it would cut roughly 6% of staff, and Skydance is expected to reduce jobs as well.

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