Jeff Sica of Circle Squared Alternative Investments discusses Disney stocks and President Donald Trumps announcement of tariffs on films made overseas.
Disney confirmed that it would be laying off 1,000 employees across the company on Tuesday.
“Over the past several months, we have looked at ways in which we can streamline our operations in various parts of the company to ensure we deliver the world-class creativity and innovation our fans value and expect from Disney,” CEO Josh D’Amaro wrote in a memo obtained by Fox News Digital.
He continued, “Given the fast-moving pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow’s needs. As a result, we will be eliminating roles in some parts of the company and have begun notifying impacted employees.”
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Josh D’Amaro sent out an employee memo on Tuesday confirming the layoffs. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
A source familiar with the matter confirmed that approximately 1,000 employees across film and TV divisions, including ESPN, as well as the product and technology divisions, will be terminated along with “certain corporate functions.”
Additional articles have suggested that Marvel Studios, which Disney acquired in 2009, faced the brunt of these layoffs, with approximately 8% of the company being let go, particularly in the visual effects department. Fox News Digital reached out to Disney for comment on the impact of the layoffs at Marvel Studios.
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This announcement marks D’Amaro’s first major company move since becoming CEO in March. Prior to his promotion, D’Amaro served as chairman of Disney Parks, Experiences and Products.
The layoffs were D’Amaro’s first major company change since becoming Disney CEO last month. (Gerardo Mora/Getty Images / Getty Images)
Layoffs are not new to the house of Mickey Mouse. D’Amaro’s predecessor, Bob Iger, announced a series of layoffs across the company after he resumed his position as CEO in 2022.
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By 2023, Iger had reduced the Disney workforce by approximately 7,000 employees and consolidated the company under three segments: Entertainment, ESPN, and Parks, Experiences and Products.
Former Disney CEO Bob Iger previously laid off 7,000 employees in 2023. (Gary Hershorn/Getty Images / Getty Images)
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As of late 2025, according to the company’s fiscal year reporting, Disney had about 231,000 employees.
