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Disney is preparing its biggest wave of layoffs yet, and this time the film studio and TV networks are both in the crosshairs

CEO Josh D'Amaro has asked some managers to cut annual costs by as much as 20 percent. Bloomberg, Deadline, Variety, and CNBC all reported the same week: thousands of jobs are going.

Disney is preparing its biggest wave of layoffs yet, and this time the film studio and TV networks are both in the crosshairs

The word came down Monday, and by Tuesday it was everywhere. Bloomberg first reported that The Walt Disney Company is laying the groundwork for thousands of job cuts, with some division managers told to find up to 20 percent in annual cost savings. Deadline, Variety, and CNBC all confirmed it independently. This is not a rumor. It is four separate newsrooms pointing at the same thing.

The scale matters. If it goes forward, this would be the fourth round of layoffs in 2026 under D'Amaro, who took over as CEO from Bob Iger in March, and the largest so far, according to Variety. To put that in context: Disney employed about 231,000 people at the end of fiscal year 2025. The cuts are coming for a company that is already deep into restructuring mode.

According to sources cited by Deadline, the new round of layoffs will be made across multiple divisions, including TV networks and the motion picture studio, at varying amounts. That is a meaningful expansion from previous rounds. Disney cut about 1,000 roles in April and several hundred more in July, with Pixar and National Geographic among the units most affected, Deadline reported. The parks took a hit too: the October round impacted those across all parts of Imagineering, the creative and technical arm that brings to life theme parks, attractions, resorts, cruise ships and live entertainment.

So what changed? The short answer is the math stopped working. CEO Josh D'Amaro is reportedly facing challenges from growing AI use, weaker box office revenue, mounting competition from streaming challengers, and a slowdown in theme park attendance abroad, according to Bloomberg. The company's president and chief creative officer, Dana Walden, addressed the situation at Bloomberg's Screentime conference last month. "I think like all of our similarly situated competitors, and certainly all of our competitors in the tech industry, there is a need to constantly evaluate how you're structured," Walden said, adding that cutting costs "frees up capital to reinvest aggressively in what drives long-term value: new content and next generation guest experiences."

D'Amaro has said the same, in slightly more corporate terms. "When our teams work smarter, we can serve more people across our parks and digital platforms and do it more cost-effectively," D'Amaro said on the company's most recent earnings call, Deadline reported. The plan, per Bloomberg, is to put the savings back to work: D'Amaro plans to reinvest part of the savings into film and TV programming, technology, and the theme parks and cruise ship businesses.

The timeline is still fuzzy. The timing of the cuts is unclear, according to Deadline. Full fiscal 2026 earnings come out on November 17th, and that call is the next scheduled chance for D'Amaro to address the cuts publicly. People inside the company will be watching that date closely.

What is clear is the trajectory. There have been ongoing layoffs at Disney throughout 2026 following Josh D'Amaro taking over as CEO from Bob Iger on March 18, and Disney is now preparing for more, with thousands poised to be impacted. The "One Disney" strategy D'Amaro outlined when he took the job aimed at unifying the company's many divisions. He stepped in as CEO in March, replacing longtime chief executive Bob Iger, and has prioritized a strategy dubbed "One Disney" that aims to better align the company's many divisions and integrate compatible businesses. Whether that consolidation is producing efficiency or just uncertainty is a question every writer, animator, and marketing director in Burbank is probably asking right now.

Meanwhile, in a very different kind of corporate recognition...

While Disney was making grim headlines, Apple Music was handing out what might be this year's most debated trophy in hip-hop. Apple Music placed Drake front and center on its "Rap Life: Best of 2026" playlist, naming him its Best Rapper of 2026, recognizing a year defined by massive streaming numbers and renewed commercial momentum.

The numbers back up the choice, at least on the platform's own terms. Apple Music noted that ICEMAN became "the first 2026 rap album to cross 2 billion streams," framing it as his return to the top of rap's hit machine. He became the first ever artist to notch the top three spots on the Billboard 200. He also became the first artist to surpass 350 million RIAA-certified units.

Apple Music called it his "loudest comeback in years," built around a three-album release weekend that covered rap, R&B, and dance music all at once, bringing ICEMAN, HABIBTI, and MAID OF HONOUR into the world together, a move Apple Music described as a "genre spanning gamble" that "landed as critical and commercial lightning."

The complication, as The Source and VICE both noted, is that Drake will not be collecting a Grammy for any of it. According to Billboard, Drake did not submit any of his three 2026 albums for consideration at the 2027 Grammy Awards, and sources confirmed he did not submit any songs from ICEMAN, HABIBTI, or MAID OF HONOUR to the Recording Academy. He said as much on the albums themselves. On the closing track of ICEMAN, titled "Make Them Know," Drake rapped: "This album, I'm never submittin' it," per Billboard.

There is also the question of how much a streaming service's year-end honor reflects anything beyond its own data. With awards season still ahead and more year-end lists on the way, the Apple Music nod looks more like an opening move than a final verdict on his year, as DancehallMag put it.

Grammy nominations for the 69th ceremony drop November 16. Drake will not be on the ballot. His streams will keep climbing anyway.

Sources