Disney to cut hundreds of employees in latest round of layoffs
Walt Disney Co. launched another deep round of layoffs on Monday, notifying several hundred Disney employees in the U.S. and abroad that their jobs were being eliminated amid an increasingly difficult economic environment for traditional television.
People close to the Burbank entertainment giant confirmed the cuts, which are hitting film and television marketing teams, television publicity, casting and development as well as corporate financial operations.
The move comes just three months after the company cut 200 workers, including at ABC News in New York and Disney-owned entertainment networks. At the time, the division said it was cutting its staff by 6% amid shrinking TV ratings and revenue for traditional television.
ABC News shed about 40 employees last October. The company's TV stations also lost staff members.
The ABC television network and Disney-owned entertainment channels have seen dramatic audience defections as consumers switch to streaming services, including Netflix, Paramount+ and Disney+.
Hollywood trade site Deadline first reported the news.
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