Disney announced it is laying off around 1,000 employees across parent company The Walt Disney Company, Marvel Entertainment, Marvel Studios and Marvel Comics. This is part of a major restructuring of the company to reduce costs. Disney's move to lay off staff is surprising because last year it recorded revenue of $94.4 billion, an increase of 3% compared to 2024.
Among those affected are the entire Disney Home Entertainment staff that manages the physical media business such as DVDs which is now declining due to streaming. In addition, film & TV production staff, comic publishing, franchise operations and finance and legal staff have also been laid off. Disney will reportedly use external contractors to perform the duties of the laid-off employees.
Disney has been reducing film and TV production from Georgia to Europe in recent years. Lower costs are a factor in the filming of The Fantastic Four: First Steps and Spider-Man: Brand New Day being done in the UK. In May last year, President Trump threatened to impose tariffs on studios that release films in America but film abroad to ensure the local film industry is not affected.
