Photo: Davric / Wikimedia Commons (2018 archive)

Walt Disney is considering thousands of job cuts and asking some managers to aim for 20 percent in annual cost savings, according to a Bloomberg News report cited by Reuters on Monday.

The report relied on people familiar with the matter. Reuters said it could not immediately verify the account.

The brief did not include company confirmation, a final number of positions to be eliminated or a timetable. The reported discussions should therefore not be read as an announced layoff program.

Cost target applies to some managers

The reported 20 percent figure concerns annual cost savings sought from some managers. It is not a statement that Disney plans to cut 20 percent of its workforce or that every division faces the same target.

Reuters’ account, also carried by The Straits Times, did not identify the affected business units or specify how much of any savings would come from staffing changes rather than other expenses.

For employees and investors, the unresolved details are the scale, timing and distribution of any reductions. Bloomberg’s unnamed-source report points to potential cuts in the thousands, but the available brief does not establish a final total.

Until Disney provides details or the report is independently confirmed, the development remains an attributed account of possible job reductions and cost-saving discussions, not a completed decision disclosed by the company.

JBizNews Desk | Burbank
© JBizNews.com. All rights reserved. Unauthorized reproduction or redistribution is strictly prohibited.