Disney is gearing up for a significant round of layoffs, with some managers told to cut expenses by 20% on an annualized basis, Bloomberg News reported .

It would be the fourth round of job cuts in 2026 under Disney CEO Josh D’Amaro and affect the most number of staffers. The Bloomberg report, which cited anonymous sources, said some Disney operations “will be affected disproportionately,” but it did not provide details on which areas would suffer the brunt of the cutbacks. D’Amaro “aims to reinvest a portion of the savings into film and TV programming, technology and the theme parks and cruise ship businesses,” according to the report.

Disney declined to comment.

Disney has been planning a major restructuring of its TV operations, which would eliminate hundreds of jobs and consolidate divisions, the Wall Street Journal reported last month.

In late September, Disney let go a few hundred employees , primarily in its human resources and IT departments across corporate and within different divisions.…