Kamal Ghorui
Disney CEO Josh D’Amaro has announced that the company is undergoing a change, working to reshape its massive media empire. In a memo to employees, the CEO said that the company is cutting approximately 1,000 roles this week to “streamline” its operations. This is the first big restructuring under D’Amaro as CEO. A key executive leader, D’Amaro served as Chairman of Disney Experiences and took the charge as the company chief in March. In a memo sent to employees on Tuesday (April 14), Josh D’Amaro, explained that the “fast-moving pace of our industries” requires the company to be more agile. According to the memo (shared by Variety), the majority of the job losses are a direct result of Disney forming a single, consolidated “enterprise marketing division.” This new group is being led by Asad Ayaz, the company’s Chief Marketing and Brand Officer.Under the new structure, these functions will be unified to “serve consumers in an even more connected way,” according to D’Amaro’s note. The cuts are expected to impact several high-profile areas of the business, including, Disney’s Film Studios and TV Networks, ESPN, Product and Technology departments and Corporate groups.
CEO Josh D’Amaro’s memo to employees
Dear Fellow Employees & Cast Members,We have experienced a great deal of change these last few years, both at the company and across our industries. Knowing firsthand how these moments can bring uncertainty, I want to be open about some difficult news that will be communicated this week.In January, we announced our unified enterprise marketing and brand organization, designed to serve consumers in an even more connected way. Over the past several months, we have looked at ways in which we can streamline our operations in various parts of the company to ensure we deliver the world-class creativity and innovation our fans value and expect from Disney. Given the fast-moving pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow’s needs. As a result, we will be eliminating roles in some parts of the company and have begun notifying impacted employees.I know this is hard. Those that will be leaving us have done meaningful work here and care deeply about this company. These decisions are not a reflection of their contributions, or of the overall strength of the company. Rather, they reflect our continual evaluation of how to more effectively manage our resources and reinvest in our businesses.Compassion and respect remain at the heart of our company. As we move forward through this transition, our priority is to support those impacted and help each person navigate what comes next with resources, guidance, and direct support.Despite these difficult decisions, I remain optimistic about where we’re headed as a company. I’m deeply grateful for all of your contributions and for the dedication, professionalism, and care you bring to your work each day. Even in challenging moments, you continue to demonstrate what makes Disney so special.Josh
