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In the newest episode of Mickey Mouse Clubhouse, Mickey wants to keep his Club House in tip-top shape. So he calls on Toodles to fetch his mousketools, and when presented with three options, Mickey selects…the pink slip.
The episode may be fictional, but the layoffs sure weren’t. Walt Disney Co. let go of “several hundred employees” this week, media outlets reported. The layoffs included an unspecified number of employees in Disney’s corporate finance function.
A Disney spokesperson told CBS News the layoffs were part of ongoing efficiency efforts as the entertainment business “transforms at a rapid pace.” The spokesperson continued, “We have been surgical in our approach to minimize the number of impacted employees.”
This is the latest round of job cuts in recent months for Disney. The company laid off nearly 200 people at ABC News “and the company’s entertainment networks,” Deadline reported in early March. It also fired about 300 employees in September, including some in finance, according to Variety.
Representatives of Disney did not immediately respond to CFO Brew’s request for comment.
Disney had 233,000 people on its payroll as of late September, which included 171,000 US employees, according to its most recent annual 10-K filing.
Disney reported in May that revenues increased 7% and pre-tax income grew by $2.4 billion YoY to $3.1 billion in its latest fiscal quarter. At that time, Disney said it expected its adjusted earnings per share would grow 16% YoY in its 2025 fiscal year.
“Our outstanding performance this quarter…underscores our continued success building for growth and executing across our strategic priorities,” CEO Bob Iger said in Disney’s earnings release. “Following an excellent first half of the fiscal year, we have a lot more to look forward to.”