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

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 is downsizing as the company reportedly faces a new round of layoffs, affecting roughly 300 people. According to Deadline, positions impacted by the job cuts include Disney 's legal, HR, finance and communications departments.

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