Josh D'Amaro's tenure as Disney's CEO is beginning exactly how you'd expect a modern entertainment leadership transition to start: with layoffs.
The company announced plans to cut up to 1,000 employees, marking D'Amaro's first major strategic move since taking the helm from Bob Iger. According to Deadline, the cuts will affect multiple divisions across the company, though specific departments haven't been disclosed.
This isn't Disney's first rodeo with restructuring—the company has undergone several rounds of layoffs in recent years as it navigates the expensive transition from theatrical dominance to streaming supremacy. But these cuts signal something different: D'Amaro's vision for what Disney needs to become.
D'Amaro, who previously led Disney Parks, Experiences and Products, comes from the most profitable division of the company. That's not a coincidence. While Disney+ continues to hemorrhage cash and theatrical releases deliver mixed results, the parks division has been a consistent money-maker. His appointment suggested a shift toward operational efficiency over creative experimentation.
These layoffs confirm that thesis.
The timing is particularly notable given Disney's recent performance. The company's streaming division finally turned profitable last quarter, and theatrical releases like the latest Marvel entries have performed reasonably well domestically. But "reasonably well" isn't the Disney standard, and Wall Street knows it.
What's striking isn't the layoffs themselves—unfortunately, they're standard operating procedure in modern Hollywood—but what they reveal about 's priorities under new leadership. is clearly signaling that the era of is over. The streaming wars burned through billions. The theatrical market has fundamentally changed. can no longer afford to operate like the monopolistic juggernaut it was five years ago.
