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Disney is laying off around 300 employees in its latest round of cuts under CEO Josh D’Amaro, according to a person familiar with the matter. The reductions extend a series of workforce moves since D’Amaro took charge earlier this year.

The majority of the affected employees worked in human resources and technology roles. The person spoke on the condition of anonymity because they were not authorized to discuss the layoffs publicly.

The current action is the latest round of job cuts since D’Amaro took the top position at Disney. It follows two other rounds of workforce reductions announced or reported after he became CEO.

In April, Disney planned to eliminate as many as 1,000 roles as D’Amaro consolidated the company’s enterprise marketing division. CNBC reported that planned reduction at the time.

Further cuts followed in July as Disney reduced its workforce by several hundred people across multiple corporate functions. Those reductions affected Pixar, ESPN, Disney Entertainment Television and Disney’s studios, according to various media reports.

The majority of the July layoffs occurred within Pixar and National Geographic. That round reached a broader collection of Disney businesses than the latest cuts, which were concentrated in human resources and technology.

Disney had warned about the newest reductions in its August earnings report. The company said it was evaluating ways to cut costs and identified labor and selling, general and administrative expenses as areas under consideration.

“We remain highly focused on reducing costs across the enterprise to create incremental capacity to invest for growth and are evaluating a variety of levers, including reductions in labor and SG&A,” Disney said in that report.

The company added, “We are mid-stream in this work and will provide future updates on progress.”

Around that same time, Disney also began offering early retirement buyout packages to longtime executives. The buyouts accompanied the company’s continued evaluation of costs and its search for additional capacity to invest in growth.

D’Amaro became Disney’s CEO in March, replacing longtime chief executive Bob Iger. Since taking the position, he has prioritized a strategy called “One Disney” across the company.

That strategy is intended to align Disney’s many divisions more closely and integrate businesses that can operate together. It spans a company with operations across film, streaming, theme parks, consumer goods, gaming and sports.

D’Amaro has said the goal is to create a seamless flywheel that brings Disney’s intellectual property together across those divisions. The approach seeks closer coordination among the businesses and properties already operating under the Disney organization.

The restructuring comes as Disney and other legacy media companies face an inflection point. Streaming and digital entertainment are overtaking the traditional media landscape, creating pressure for companies to adapt their operations.

Disney has responded by cutting costs and streamlining divisions as it seeks to make new investments. Its August earnings report directly connected potential labor reductions and lower SG&A expenses with creating additional investment capacity for growth.

The newest cuts place the immediate impact largely on human resources and technology employees. They follow the April plan affecting as many as 1,000 roles and the July reduction of several hundred workers across corporate functions.

Deadline was the first outlet to report the most recent round of layoffs. CNBC subsequently reported that around 300 employees were being cut, citing the person familiar with the matter who requested anonymity.

The layoffs add another chapter to Disney’s cost reduction effort under D’Amaro. Disney has said the work remains underway and that it plans to provide future updates on its progress.

DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.