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Home » Stock Market News » Walt Disney to lay off nearly 300 staff in the US

Walt Disney to lay off nearly 300 staff in the US

Written by Miroslav Marinov
Miroslav Marinov
Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.
, | Updated: October 30, 2024

According to a report by Deadline, citing sources, Walt Disney (NYSE: DIS) is set to lay off about 300 employees in the United States.

The lay-offs are to affect the company’s corporate operations, including legal, HR, finance and communications.

At the same time, the lay-offs will not impact Walt Disney Co’s operations at Parks, ESPN and Disney Entertainment, the report stated.

In July, Walt Disney had said it would cut about 140 jobs at Disney Entertainment Television.

Stock Performance

The shares of Walt Disney Company (DIS) closed 1.36% ($1.28) higher at $95.20 in New York on Thursday, as they extended the gains from the previous two market sessions.

The company’s total market cap now stands at $172.654 billion.

The shares of Walt Disney Company (DIS) went up 3.92% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have risen 5.44% so far this year.

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