Disney Cuts 1,000 Jobs Amid $7 Billion Buyback Goal

Disney has announced the elimination of 1,000 positions as part of a workforce reduction strategy linked to its $7 billion stock buyback initiative. According to NS3.AI, the layoffs are primarily affecting marketing and corporate teams under the banner of Project Imagine. Chief Marketing Officer Asad Ayaz stated that this project aims to consolidate Disney's marketing efforts across film, television, and streaming platforms. Additionally, Josh D’Amaro, who is overseeing the workforce trim, revealed that Disney plans to allocate $60 billion over the next decade towards enhancing its theme parks and experiences.