Los Angeles, October 2
Walt Disney Company President Dana Walden has described the company’s recent layoffs as “extremely painful” but necessary as the entertainment giant faces intensifying competition in streaming and rapid technological changes.
Speaking at the Bloomberg Screentime conference in Los Angeles on Thursday, Walden said Disney had recently parted ways with employees she had worked with for much of her career.
“We’ve exited colleagues who I’ve worked with for most of my career. It is in many ways a harsh reality,” Walden said. “It is extremely painful.”
More than 300 Disney employees were laid off on Tuesday, according to US media reports. Most of those affected reportedly worked in human resources and information technology.
The latest cuts came after Disney eliminated around 1,000 positions in April, primarily in its marketing division, following the appointment of Josh D’Amaro as the company’s new chief executive, according to trade media reports.
Disney has undertaken several rounds of cost-cutting in recent years as it seeks to compete in the increasingly crowded streaming market. The entertainment industry is also undergoing rapid technological change, including the growing use of artificial intelligence tools in production.
Walden said the company had also offered some executives the option of deciding whether they wanted to leave or remain with the company through a voluntary retirement programme.
It remains unclear whether the latest round of layoffs included employees who participated in the programme.
“There is a need to constantly evaluate how you’re structured,” Walden said, referring to Disney and its competitors in the technology sector.
“Technology set their sights on our business, and we must survive and thrive and grow. And that’s what we’re going to do,” she said.
The Walt Disney Company did not immediately respond to a request for comment.
