Disney plans several thousand layoffs, managers asked to cut costs by up to 20%
Entertainment giant continues cost-cutting drive after earlier reductions
Disney is planning to eliminate several thousand positions, people familiar with the matter told CNBC, with some managers asked to reduce costs by up to 20%. The move marks the latest round of layoffs since CEO Josh D'Amaro took the reins earlier this year, following separate plans in April to cut as many as 1,000 employees and in September to cut about 300.