BURBANK (dpa-AFX) - Disney's gearing up to cut as many as 1,000 positions, part of a new initiative to reduce costs under their new CEO, Josh D'Amaro, according to someone in the know.
Most of the layoffs are expected to hit the marketing department, which just got reorganized under Asad Ayaz, who is now the chief marketing and brand officer. This is the first time all marketing for Disney's entertainment, experiences, and sports divisions is being overseen by one person.
This latest move is part of a larger restructuring effort that started with former CEO Bob Iger, who came back in 2022 and pushed through a big turnaround plan that included $5.5 billion in cuts and 7,000 job losses.
D'Amaro, who stepped into the CEO role in March after leading Disney Experiences, is keeping the focus on making operations more efficient as the company faces various challenges in the industry.
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