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Stock impact report

Disney cutting 1,000 jobs, CEO Josh D'Amaro tells employees [Yahoo! Finance]

Warner Bros. Discovery, Inc. - Series A (WBD) 
Company Research Source: Yahoo! Finance
About 1,000 positions will be eliminated, according to a person familiar with the development. The cuts will fall on the marketing group, which was reorganized in January, and other parts of the company, including its studio and television business, ESPN , products and technology and certain corporate functions, according to the source. Disney began notifying employees this week. “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,” D'Amaro wrote in an email seen by Reuters. “As a result, we will be eliminating roles in some parts of the company.” Like other Hollywood studios, Disney is adjusting to new economic realities, including a declining television business, shrinking box office and heightened competition. Warner Bros Discovery and Paramount Skydance have also undergone layoffs. The last significant round of layoffs at Disney came in 2023 when th Show less Read more
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