Disney (DIS.US) Reportedly Plans to Lay Off Thousands, Some Managers Asked to Cut Annual Costs by 20%

Zhitong Finance APP has learned that people familiar with the matter revealed that Disney (DIS.US) is planning to lay off thousands of employees, and this entertainment giant has asked some managers to set annual cost-saving targets at 20%. The people familiar with the matter said the savings could come from layoffs or from expense cuts. Disney's businesses include theme parks, television networks, and movie studios, and some businesses will be significantly more affected. The people familiar with the matter said CEO Josh D'Amaro plans to reinvest some of the saved funds in film and television programs, technology, and the theme park and cruise businesses.