Walt Disney Co. has initiated a fresh round of layoffs, with corporate employees emerging as the latest victims of the Burbank media and entertainment giant's ongoing $7.5-billion cost-cutting operation.

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