Disney To Ax Nearly 1,000 Jobs Under New CEO Josh D’Amaro: Report

The Walt Disney Co. (NYSE: DIS ) is reportedly set to lay off up to 1,000 employees in the coming weeks under new CEO Josh D’Amaro . Disney is gearing up for substantial layoffs, primarily within its recently consolidated marketing department. These plans were reportedly in the pipeline before D’Amaro’s appointment, reported the Wall Street Journal on Wednesday. The entertainment behemoth is also merging the staff of its Disney+ and Hulu streaming services into a single app. As part of its cost-cutting strategy, Disney has been consulting with Bain & Co . Since assuming leadership last month, D’Amaro has not detailed specific plans for restructuring Disney. However, sources told the publication that fostering quicker and more efficient collaboration across different divisions is one of his priorities. The Walt Disney Co. did not immediately respond to Benzinga ‘s request for comments. Past Layoffs At Disney This move comes on the heels of previous reports indicating layoffs at Disney. In June, the media giant was … Full story available on Benzinga.com