Entertainment giant Walt Disney is set to reduce its workforce by up to 1,000 jobs, primarily affecting its marketing division. The decision, which predates the appointment of CEO Josh D’Amaro in March, aims to impact less than 1% of Disney’s total employees.
Disney’s new Chief Marketing Officer, Asad Ayaz, is planning to streamline marketing operations and cut costs through a program called ‘Project Imagine’. This initiative follows Ayaz taking charge of a newly established company-wide marketing organization earlier this year.
In a separate move, technology company Oracle has laid off a significant number of employees globally, with some workers being notified of their terminations via early-morning emails. Reports suggest that Oracle might be letting go of around 20,000 to 30,000 employees, representing about 18% of its worldwide workforce.
Meanwhile, banking giant HSBC is contemplating job cuts in the upcoming years as CEO Georges Elhedery explores the use of artificial intelligence (AI) to enhance operational efficiency, especially in non-client-facing roles at global service centers. The discussions are in early stages, with a focus on optimizing middle and back-office functions. HSBC had approximately 210,000 employees by the end of 2025.
