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