These layoffs add to the approximately 7,000 jobs cut earlier this year, part of CEO Bob Iger's broader initiative aimed at saving $5.5 billion. The affected employees include those in casting, corporate finance, and marketing teams, with the company emphasizing a careful approach to minimize disruption without completely disbanding any teams. Disney’s workforce totals around 233,000 globally, with over 60,000 employees working outside the US.

Despite the job cuts, Disney reported stronger-than-expected earnings in May, posting a revenue of $23.6 billion, a 7% increase year-on-year, largely due to a rise in subscribers for Disney+. The entertainment giant continues to release popular films, including "Lilo & Stitch," which recently achieved significant box office success, raking in over $610 million globally since its debut.