Entertainment giant Disney is set to lay off up to 1,000 employees in the coming months as Hollywood and the media continues to contract in the face of a changing media landscape.
The largest number of some 1,000 lay offs is reportedly coming out of the company’s marketing department, according to Variety.
The cuts among Disney’s 231,000 workforce comes as Josh D’Amaro takes over from vacating CEO Bob Iger. D’Amaro was previously the chairman of Disney Experiences and was responsible for the overhauling of the company parks and attractions.
News of Disney’s reduction was reported only a day after the announcement that cuts were being made at Sony Entertainment.
Sony Pictures Entertainment is reportedly set to lay off hundreds of employees across its TV, film, and corporate offices. Sources said the layoffs are not “cost driven” but are “targeted and strategic” and are an effort to reorganize for the future. The company is looking to maximize growth all across the company, including anime, YouTube, brand extension, game shows, video gaming, and many other areas.
The cost cutting by Sony and Disney is more evidence of the major contraction going on all across the entertainment industry and an example of the pressures driving Hollywood into a state of shock.
Breitbart News recently reported that filmmaking jobs had fallen off by thirty percent over the previous two years. By the end of 2024, there were only 100,000 motion picture jobs in Los Angeles County, compared to 142,000 two years earlier.
This collapse was preceded by an equally stiff drop off of 48 percent in theater attendance.
Also this month, the Wall Street Journal reported that Hollywood’s fall is so bad that L.A. may soon resemble the auto industry’s decline in Detroit and that Hollywood’s collapse is a “nightmare scenario playing out” from which it may never recover.
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