New Delhi: Entertainment giant Walt Disney is set to reduce its workforce by up to 1,000 employees in the coming weeks, with the marketing division expected to bear the brunt of the layoffs, according to reports.
The Wall Street Journal, citing sources, said the job-cut plans were initiated prior to Josh D’Amaro’s appointment as Disney’s Chief Executive Officer in March. The layoffs are anticipated to affect less than 1 per cent of the company’s total workforce, which stood at around 231,000 at the end of fiscal year 2025.
Disney’s newly appointed Chief Marketing Officer, Asad Ayaz, is also working on consolidating the company’s marketing operations and cutting costs under a programme code-named ‘Project Imagine’. Ayaz began overseeing a newly created, company-wide marketing organisation in January.
In a related development, tech giant Oracle has carried out widespread global layoffs, with several employees reporting receipt of early-morning emails notifying them of their termination. Sources indicate that Oracle may be cutting between 20,000 and 30,000 jobs, representing roughly 18 per cent of its worldwide workforce.
Meanwhile, global banking major HSBC is reportedly considering job reductions over the next few years. CEO Georges Elhedery is exploring the use of artificial intelligence (AI) to streamline operations, particularly in middle- and back-office roles. Non-client-facing positions in global service centres are expected to be most affected, though discussions remain at an early stage. HSBC’s workforce was approximately 210,000 at the end of 2025.
With IANS inputs