New York, April 16: Marvel Studios has reportedly laid off 15 employees from two of its divisions in the United States. The layoffs reportedly affected the junior employees working in production and development. According to a report, the layoffs were initiated after Disney CEO Bob Iger's statement on reducing the output at Marvel Studios. The Walt Disney Company had announced a deal worth $4 billion and acquired Marvel Entertainment in 2009.

According to a report by The Hollywood Reporter, Marvel cut 15 staffers on April 15, 2024, from Burbank and New York divisions. The Marvel Studio layoffs hit the lower-production and development employees working at the company. The report emphasised that the layoffs at Marvel were implemented following the studio refocusing "its slate for a content boom" as the company increased the making many films and TV shows to feed the launch of Disney+. Tesla Layoffs: Elon Musk-Run Tesla Announces To Cut Over 10% of Its Global Workforce.

The report highlighted that in 2024, Marvel Studio has only one movie coming, "Deadpool and Wolverine", set to release in July as a part of a pullback. Also, the report mentioned that the company will have only two live-action TV shows in 2024. According to a report by Variety, Walt Disney CEO Bog Iger introduced a strategic initiative aimed to "recalibrate" the Marvel Studio's production slate. The strategic move would respond to the wide range of industry challenges and focus on improving the quality of the company's cinematic titles. 

Walt Disney Company CEO Bob Iger reportedly said that the company reduced volume and output at Marvel as a first step. He highlighted that when the issues within the movies are addressed, the company should get "aggressive" to make better films or simply kill the projects that it does not believe in. He also emphasised that the company would confidently put out the new projects that they believe in, like Deadpool and Wolverine, coming this year. USAA Layoffs 2024: US-Based Insurance and Financial Services Company Cuts More 220 Employees in Its Latest Round of Job Cuts Amid Fear of Economic Slowdown.

The Marvel layoffs in 2024 were implemented due to efficiencies created after Marvel Entertainment was folded into Disney's large business units, which resulted in parting ways with Isaac Perlmutter, the long-time Chairman of Marvel Entertainment, said The Hollywood Reporter. 

(The above story first appeared on LatestLY on Apr 16, 2024 12:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website