Disney plans to cut 1,000 jobs: Reports

What Happened

Walt Disney plans to eliminate approximately 1,000 positions in the coming weeks, primarily in its marketing department, according to Wall Street Journal reports. The layoffs affect less than 1% of Disney's 231,000 employees. New CEO Josh D'Amaro and CMO Asad Ayaz plan to consolidate the marketing organization through Project Imagine to reduce expenses. Planning began before D'Amaro's March appointment.

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