Disney Plans to Cut Thousands of Jobs as Departments Face 20% Savings Targets

The savings will come from cutting services and merging departments, several sources told the news agency.

Some of Disney’s businesses will be disproportionately affected by the cuts, while CEO Josh D’Amaro aims to reinvest some of the savings in film and television, as well as theme parks and cruises, according to the report.

Disney has already made significant cuts this year and in recent years, affecting ABC, Pixar, ESPN and its film business, among others.

The company had 231,000 employees worldwide at the end of the last fiscal year, Bloomberg reports.