Key facts
- Some Disney managers were asked to target 20% in annual cost savings, per people familiar with the matter.
- The report did not say which divisions would carry the cuts or how many employees would be affected.
- Disney did not publicly confirm the plan, and Reuters said it could not immediately verify the report.
Walt Disney Co. is moving toward thousands of job cuts, with the entertainment company asking some managers to target 20% in annual cost savings, according to people familiar with the matter cited by Bloomberg News on November 2.
The report did not say when the cuts would begin, how many positions would be eliminated or which divisions would carry them. Disney did not publicly confirm the plan, and Reuters said it could not immediately verify the report.
The account rests on unnamed people familiar with the matter, and no figure for the total number of job cuts was given.