Disney Layoffs Hit Company’s Animation And Kids Businesses
Bob Iger delighted investors and terrified his own employees earlier this year when he announced that the company would be laying off 7,000 employees as part of the its efforts to cut $5.5 billion in costs.
In March, Marvel Entertainment was absorbed by Disney and Marvel Entertainment chairman Isaac “Ike” Perlmutter was let go. But last week saw the first wide-reaching layoffs announced, and Disney’s animation business wasn’t immune.
Disney TV Animation senior VP of current series Khaki Jones is among those to be let go by Disney. Jones is a 13-year company veteran who most recently supervised all series and short-form content produced for The Disney Channel and Disney+.
From Disney’s kids unit, VP Claire McCabe and executive director Meghan de Boer have both been laid off. The two executives were appointed to their roles last year.
Iger was brought back as CEO in November of last year to restore profitability to the company and has remained steadfast in that goal since. The company’s direct-to-consumer division, which includes Disney+, Hulu, and ESPN+, lost $4 billion-plus in 2022.
Shortly after those 2022 financial results were announced, we asked The Investor Channel’s Colin Tedards to talk us through the corresponding earnings report and explain why Iger felt it would be necessary to cut 7,000 jobs at the company.
We’ve not received word of any other executive or staff cuts in animation yet, but we will be keeping an eye out. Reports citing insider knowledge are indicating that the next batch of cuts will likely come from ABC, ESPN, and the company’s parks department.