Disney cuts about 300 employees — CNBC

Disney is cutting about 300 employees as part of a new round of workforce reductions. The cuts will mainly affect employees in human resources and technology departments, CNBC reports, citing a person familiar with the matter.

Layoffs under the new CEO

This is another wave of layoffs at Disney after Josh D’Amaro took over the company at the beginning of the year.

In April, Disney planned to eliminate up to 1,000 positions as D’Amaro consolidated the corporate marketing division. In July, the company also cut several hundred employees in corporate functions.

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Cost reductions

According to various media outlets, the July cuts affected Pixar, ESPN, Disney Entertainment Television and Disney studios. Pixar and National Geographic accounted for the largest number of layoffs at the time.

Disney warned of possible new cuts in its August financial results report. The company said it was assessing various tools to reduce costs, including cuts to personnel expenses as well as general and administrative expenses. At around the same time, Disney began offering early retirement packages to executives who had worked at the company for a long time.