Disney’s layoffs started yesterday, on the same day Paramount Global laid off hundreds in the second round of its own layoffs aiming to cut 15% of the company’s U.S. workforce, with Paramount+ getting the brunt of the cuts.

Disney said it is evaluating ways to invest in its businesses and more effectively manage its resources and costs amid layoff reports.

Disney has axed about 300 employees across various corporate departments, as the Mouse House continues to look at "ongoing" ways to trim costs.

A rep says, "As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions."

Walt Disney Co (NYSE:DIS) has let go of at least 300 employees across multiple corporate departments. “We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney,

An estimated 300 people have been laid off across Disney Global, with more cutbacks expected in the coming days. 'The company "determined there are ways for [corporate-level functions] to operate more efficiently,