Disney plans up to 1,000 job cuts; Oracle, HSBC also eye workforce reductions

The Walt Disney Company is planning to cut up to 1,000 jobs in the coming weeks, with a significant share of layoffs expected in its marketing division, according to a report.

Citing sources, The Wall Street Journal said the restructuring plans were initiated before Josh D’Amaro took over as chief executive officer in March. The layoffs are likely to impact less than 1 per cent of Disney’s global workforce, which stood at around 231,000 employees at the end of fiscal 2025.

The report added that Disney’s chief marketing officer Asad Ayaz is leading efforts to streamline and consolidate marketing operations under an internal programme codenamed “Project Imagine”, aimed at reducing costs and improving efficiency. Ayaz has been overseeing a newly created company-wide marketing structure since January.

Broader layoff trend

In a separate development, Oracle has reportedly carried out large-scale global layoffs, with employees across regions stating they received termination emails early in the morning. Some reports suggest the cuts could range between 20,000 and 30,000 employees, or nearly 18 per cent of its workforce, though the company has not officially confirmed the figures.

Meanwhile, HSBC is also exploring potential job reductions over the coming years as CEO Georges Elhedery looks to deploy artificial intelligence (AI) to streamline operations. Early indications suggest that middle- and back-office roles, particularly in global service centres, could be most affected. HSBC had a workforce of about 210,000 employees at the end of 2025.

Industry shift

The developments reflect a broader trend among global corporations to cut costs, restructure operations, and adopt automation and AI, particularly in non-core and support functions, amid evolving business priorities and economic pressures.

With IANS inputs