Jeff Sica of Circle Squared Alternative Investments discusses Disney stocks and President Donald Trumps announcement of a tax on films made overseas.
Disney has confirmed it will lay off 1,000 workers across the company on Tuesday.
“Over the past several months, we’ve been looking at ways we can align our operations across different parts of the company to ensure we’re delivering the world-class creativity and innovation that’s important to our fans and that they’ve come to expect from Disney,” CEO Josh D’Amaro said in a memo obtained by Fox News Digital.
He continued, “Given the speed of our industries, this requires us to constantly evaluate how we can encourage the most agile and skilled workers to meet the needs of the future. As a result, we will be eliminating roles in other parts of the company and have begun to inform the affected employees.”
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Josh D’Amaro sent an employee memo 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 all film and TV divisions, including ESPN, as well as product and technology divisions, will be cut along with “certain business operations.”
Additional articles suggested that Marvel Studios, which Disney acquired in 2009, faced the problem of these layoffs, about 8% of the company was let go, especially in the visual effects department. Fox News Digital has reached out to Disney for comment on the impact of the Marvel Studios layoffs.
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The announcement marks D’Amaro’s first major move since becoming CEO in March. Prior to his promotion, D’Amaro served as chairman of Disney Parks, Experience and Products.
The layoffs were the first major changes for D’Amaro’s company since he became Disney CEO last month. (Gerardo Mora/Getty Images/Getty)
Layoffs are nothing new in the Mickey Mouse house. D’Amaro’s predecessor, Bob Iger, has announced a series of layoffs across the company after he resumes his role as CEO in 2022.
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By 2023, Iger had reduced Disney’s workforce by approximately 7,000 employees and consolidated the company under three divisions: Entertainment, ESPN, and Parks, Experiences and Products.
Former Disney CEO Bob Iger previously laid off 7,000 workers by 2023. (Gary Hershorn/Getty Images/Getty Images)
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As of late 2025, according to the company’s annual financial report, Disney had about 231,000 employees.
