Disney Cuts 1,000 Jobs

Disney CEO Josh D’Amaro has announced a sweeping reorganization aimed at creating a more agile and streamlined workforce.

In a memo to employees, D’Amaro stated that the fast-moving pace of the industry requires the company to rethink its operational structure.

These layoffs follow a significant consolidation of Disney's marketing division earlier this year and come as the company faces pressure to improve profitability in its streaming and traditional TV segments.

The cuts are expected to fall across most departments, including Marvel and ABC News.