The 7,000 layoffs ? which represent 3.2% of Disney's total headcount of about 220,000 worldwide as of Oct. 1, 2022 ? are part of Disney's efforts to achieve about $5.5 billion in cost savings.

In early 2023, The Walt Disney Company announced a massive restructuring that resulted in the elimination of approximately 7,000 jobs, representing roughly 3% of its global workforce. The primary driver was a strategic initiative led by returning CEO Bob Iger to achieve $5.5 billion in cost savings and make the company's streaming business, particularly Disney+, profitable. The layoffs targeted various divisions, including Disney Entertainment, ESPN, and Disney Parks, Experiences and Products. This move was a response to a changing media landscape where traditional cable television revenue was declining, and investors were pivoting their focus from raw subscriber growth to bottom-line profitability. By streamlining operations and reducing headcount, Disney aimed to create a more efficient corporate structure while navigating the high costs associated with content production and the integration of digital platforms.