Disney weighs sweeping layoffs, with thousands of jobs at risk as CEO Josh D'Amaro targets 20% cost cuts

Walt Disney is reportedly considering cutting thousands of jobs as part of a cost-saving restructuring initiative. The company's leadership has requested managers to identify 20% in annual cost savings. This decision follows challenges including reduced box office revenue and increased competition in streaming. Disney aims to reallocate some of the savings into film, TV programming, and theme park ventures.