Additional Coverage:
- Disney is laying off several hundred people as it grapples with the decline of traditional TV (businessinsider.com)
Disney Announces Another Round of Layoffs
Hundreds of Disney employees are losing their jobs as the entertainment giant continues to restructure amidst declining television viewership. This marks the fourth round of layoffs in the past year.
The cuts primarily affect marketing roles within Disney’s film and television division, with most of the impacted employees located in the US. Publicity, casting, development, and some global corporate finance positions were also affected. While individuals have been laid off, no entire teams were eliminated.
These layoffs come as Disney, like other major media companies, navigates the challenging transition to streaming platforms. While the company recently achieved profitability in its streaming business, the shift has required significant adjustments.
Earlier this year, Disney reduced staff at ABC News and Disney Entertainment Networks by approximately 200 employees. Last fall saw two rounds of layoffs impacting corporate departments, National Geographic, and Freeform, totaling around 440 positions. These cuts are part of CEO Bob Iger’s previously announced plan to eliminate 7,000 jobs.
Even with these cutbacks, Disney is pursuing growth opportunities. The company remains focused on its parks and experiences division, recently revealing plans for a new theme park in Abu Dhabi.