Walt Disney stock faces thousands of cuts before November 17 results

The Walt Disney Company is considering several thousand job cuts as some managers review annual cost savings of up to 20 percent, according to a CNBC report published Tuesday, November 3. The report cited people familiar with the matter who were not authorized to speak publicly.

The potential reductions would extend a restructuring program launched under Chief Executive Josh D'Amaro, who took over earlier this year. Disney has not disclosed the final number of positions or the timing of the cuts, and the company declined to comment to CNBC.

Disney weighs savings before results

The reported savings could come from job eliminations and other expense reductions. The areas potentially affected include Disney's television networks, film operations and theme-park activities, although the report did not specify how the reductions would be allocated.

Disney had about 231,000 employees at the end of fiscal 2025. The possible new round follows plans in April to eliminate as many as 1,000 positions, mainly in marketing, and a September reduction of about 300 roles, many in human resources and technology. The company also introduced an early-retirement program for some employees in August.

Management signaled the broader direction in an August 5 shareholder letter. D'Amaro and Chief Financial Officer Hugh Johnston said Disney was focused on reducing costs across the company to create capacity for growth investment and was evaluating several measures. Chief People Officer Sonia Coleman later told employees that involuntary reductions had begun in some areas and would continue into next year.

The investment case now hinges on what Disney does with any savings. The reported plan points to reinvestment in film and television programming, technology, theme parks and cruise operations. That could support margins if spending becomes more targeted, but reductions across creative or guest-facing units could raise execution risks for the entertainment and Experiences businesses.

Walt Disney stock traded at 106.53 euros on Lang & Schwarz at 14:08 CET on Thursday, November 5, 2026. Investors can follow the real-time quote of Walt Disney stock.

Disney is scheduled to publish fiscal fourth-quarter and full-year results on November 17. The release and subsequent management discussion are likely to provide the next formal update on the scale, timing and use of the planned savings.

Broader investor sentiment will also be shaped by the S&P 500 and its response to the earnings season.

For more coverage, see More news and analyses on Walt Disney stock.