Disney cuts 300 workers, offers executives early retirement

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Set us as preferred Walt Disney Co.laid off nearly 300 workers this week, the latest wave in an industry-wide consolidation that continues to reverberate throughout Southern California.Several people close to the Burbank entertainment giant confirmed this week’s cuts, which came as Disney separately offered early retirement packages for older workers.

The voluntary separation program is underway, and the number of executives who will exit later this year has not been determined, one of the knowledgeable sources said Friday.The layoffs this week largely affected the human resources and the technology divisions — a belt-tightening that comes as Disney Chief Executive Josh D’Amaro seeks to put his imprint on the sprawling company and sharpen its focus.

D’Amaro took the reins from former CEO Bob Iger in March, and the former parks chief has begun to organize the company around a “One Disney” approach to break down corporate silos that sprouted with each large acquisition, including Disney’s 2019 takeover of much of 21st Century Fox.Disney also has been working for the past year to make Disney+ the company’s central streaming hub.As part of that effort, executives have begun to diminish the Hulu service and brand, which sprung to life nearly 20 years ago.

Hollywood Inc.Josh D’Amaro and Dana Walden addressed Disney employees during a town hall Wednesday, as the heavily-scrutinized CEO succession process comes to a close.Disney employees are bracing for further cuts.

Many expect a significant television division restructuring early next year, which could result in hundreds of layoffs, according to the Wall Street Journal.Disney’s legal government affairs department also will be downsized, according to a recent internal memo Disney Chief Legal Officer Horacio Gutierrez.A Disney spokesperson declined to commen...