The Walt Disney Co. spent $7.245 billion repurchasing its own stock in the first nine months of fiscal 2026, nearly triple the amount a year earlier. Now, as the company pursues additional cost reductions, Bloomberg reports that Disney is considering thousands more layoffs and asking some managers to find savings of 20% of annual costs.
Disney’s August SEC filing showed $7.245 billion in share repurchases for the nine months ended June 27, compared with $2.496 billion in the prior-year period. It also increased its fiscal 2026 buyback target to at least $9 billion, citing an expected $1.2 billion from the planned sale of its 50% stake in A+E Global Media as a source of additional share purchases.
The company’s latest available quarterly report also recorded $5.735 billion in free cash flow across the same nine-month period.
Sponsored · Selkirk Copper Mines
Disney’s third-quarter revenue rose 7% year over year to $25.248 billion. Total segment operating income, another non-GAAP measure, increased 21% to $5.555 billion, while adjusted earnings per share rose 28% to $2.06. Its Experiences business generated $3.017 billion in quarterly operating income, up 20%.
Management had already disclosed an enterprise-wide efficiency campaign. In its August shareholder letter, Disney said it was reviewing labor and selling, general, and administrative expenses to free resources for growth investments. That earlier disclosure did not specify the new 20% managerial savings target reported by Bloomberg.
The company has already carried out several rounds of layoffs under CEO Josh D’Amaro, who took office in March. Approximately 1,000 positions were targeted in April. Nearly 300 more employees were cut in late September, mainly in human resources and technology, according to the Los Angeles Times. On October 28, the paper reported another 100 to 200 job cuts within Disney Experiences.
Disney is scheduled to report fiscal fourth-quarter results on November 17.
