Marvel Studios Cuts 8% of Staff As The Walt Disney Co. CEO Josh D’Amaro Pushes ‘Technologically-Enabled Workforce To Meet Tomorrow’s Needs’

Marvel Studios has been impacted by Disney layoffs.

Josh D’Amaro, a 28-year company veteran, is currently leading The Walt Disney Co. as CEO, succeeding Robert A. Iger, according to a news release. The decision, which was approved in a unanimous vote by the Walt Disney Board of Directors, was informed by D’Amaro’s qualities including leadership, spirit of innovation, and discernment for strategic growth opportunities, according to James Gorman, chairman of the board. 

“The Board believes he is exceptionally well prepared to guide this global company forward to serve our consumers around the world and create long-term value for shareholders,” Gorman said in the release.

One of D’Amaro’s first major moves is a mass layoff that will affect up to 1,000 roles, The Wall Street Journal reports. His goal is to streamline operations by reducing the workforce in the Disney’s media holdings such as studios, TV networks, sports, and experiences, Forbes reports.

“Over the past several months, we have looked at ways in which we can streamline our operations in various parts of the company to ensure we deliver the world-class creativity and innovation our fans value and expect from Disney,” D’Amaro wrote in a memo, according to The Hollywood Reporter.

“Given the fast-moving pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow’s needs. As a result, we will be eliminating roles in some parts of the company and have begun notifying impacted employees,” he added.

Marvel is one division that has been impacted by people losing jobs in New York and Burbank, CA, across film and TV production, comics, franchises, finance, and legal. The cuts will eliminate approximately 8% of its staff, per Forbes. This sweep also nearly wipes out the majority of Disney’s visual development team, which comes after Marvel Studios’ efforts to scale its production slate.

However, some artists on the visual development team will be able to work with the company as project-based contractors, the outlet noted.

D’Amaro stated in the memo that the layoffs do not reflect the contributions of the impacted workers, acknowledged their “meaningful” efforts, and remains optimistic about the company’s direction looking ahead, per The Hollywood Reporter.

The post Marvel Studios Cuts 8% of Staff As The Walt Disney Co. CEO Josh D’Amaro Pushes ‘Technologically-Enabled Workforce To Meet Tomorrow’s Needs’ appeared first on AfroTech.

The post Marvel Studios Cuts 8% of Staff As The Walt Disney Co. CEO Josh D’Amaro Pushes ‘Technologically-Enabled Workforce To Meet Tomorrow’s Needs’ appeared first on AfroTech.