Jeff Sica of Circle Squared Alternative Investments discusses Disney stock and President Donald Trump’s announcement of tariffs on films made abroad.
Disney confirmed Tuesday that it would lay off 1,000 employees across the company.
He continued: “Given the rapidly evolving pace of our industries, this requires us to continually assess how we can foster a more flexible and technology-enabled workforce to meet the needs of tomorrow. As a result, we will be eliminating positions in some areas of the business and have begun notifying 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 at film and TV divisions, including ESPN, as well as its product and technology divisions, will be laid off, along with “certain corporate functions.”
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The announcement marks D’Amaro’s first major corporate move since becoming CEO in March. Prior to his promotion, D’Amaro served as chairman of Disney Parks, Experiences and Products.
The layoffs marked the first major corporate change for D’Amaro since becoming CEO of Disney last month. (Gerardo Mora/Getty Images/Getty Images)
Layoffs are nothing new in the house of Mickey Mouse. D’Amaro’s predecessor, Bob Iger, announced a series of layoffs within the company after resuming his role 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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According to company data, as of the end of 2025 reporting on the financial yearDisney had approximately 231,000 employees.
