LOS ANGELES, April 8 (Xinhua) -- U.S. entertainment and media giant Disney is planning to eliminate as many as 1,000 positions in the coming weeks, The Wall Street Journal reported Wednesday, citing relevant sources.

The company is preparing to make the sizable layoffs in one of the first significant moves under its new CEO Josh D'Amaro, said the report, adding that many of the cuts will be in the company's recently consolidated marketing department.

Like many Hollywood studios, Disney has been trying to adjust to the smaller profits it earns from streaming compared with what it used to make in linear television, as well as to diminished box office returns and intense competition from tech companies, according to the report.

Disney is also trying to free up money to invest in digital businesses where it sees growth potential, the report said.

The company has laid off more than 8,000 people since D'Amaro's predecessor, Bob Iger, returned as CEO in 2022 and began a major restructuring. Plans for the coming layoffs began before D'Amaro took over, people with knowledge of the cuts were quoted as saying by the report.

D'Amaro hasn't laid out specific plans for reshaping Disney since taking over last month, the report said, noting that people close to the company said one of his priorities is having different divisions collaborate more quickly and efficiently.

Josh D'Amaro, 54, officially became CEO of The Walt Disney Company on March 18. The 28-year Disney veteran had served as chairman of the Disney experiences segment since 2020, and prior to that, was president of Walt Disney World Resort. ■