Disney laying off several hundred in film, TV, finance
Media company Walt
Disney
is laying off several hundred employees in film, television and corporate finance, a source familiar with the matter said on Monday.
The layoffs affect multiple teams around the world, including film and TV marketing, TV publicity and casting and development, the source said.
Disney and other companies are reshaping their business strategies in response to the migration of cable TV audiences to
streaming platforms
. In 2023, Disney cut 7,000 jobs as part of an effort to save $5.5 billion in costs.
Disney also laid off nearly 6%, or fewer than 200 people, in the ABC News Group and Disney Entertainment Networks in March.
The company's most recent earnings report in May exceeded Wall Street expectations with an unexpected boost from the
Disney+
streaming service and strong results from theme parks.
Disney shares, which have risen 21% since the earnings report, were down 0.3% at $112.62 on Monday afternoon.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
6 hours ago
- Time of India
Man sues Disney for $50,000 over injuries on Blizzard Beach waterslide
A man weighing 334 pounds has filed a $50,000 lawsuit against Walt Disney World , alleging negligence after he sustained injuries on a waterslide at Blizzard Beach. According to a PEOPLE report, Eugene Strickland claimed he was hurt while riding the Downhill Double Dipper in July 2021, and continues to suffer from the injuries nearly four years later. Strickland said he briefly went airborne during the ride, which caused him to suffer "permanent catastrophic injuries." At the time, he exceeded the ride's posted weight limit by more than 34 pounds (around 15 kg), the complaint stated. He further alleged that the high speeds caused his inner tube to dislodge, resulting in a hard impact with the plastic slide surface. Strickland is seeking damages for physical injury, pain and suffering, scarring, disfigurement, emotional distress, and loss of enjoyment of life. The lawsuit accuses Disney of failing to properly maintain safe conditions, claiming the company was aware of potential hazards but did not take adequate steps to warn or protect guests. Strickland described the ride as a 'concealed trap.' Court records show the case is scheduled for a jury trial in May 2027. His attorney told PEOPLE , 'Our client suffered serious injuries due to inadequate safety measures at Disney's Blizzard Beach. We're seeking justice and accountability for the harm caused.' Live Events Economic Times WhatsApp channel )
Pink Villa
7 hours ago
- Pink Villa
Lilo And Stitch Worldwide Box Office Update: Disney's live-action film marches its way towards the coveted USD 1 billion club
Disney's live-action Lilo And Stitch is setting the global box office on fire. The film is racing toward a jaw-dropping USD 1 billion in worldwide gross collections. After its second Tuesday, it has already pocketed just under USD 650 million globally. This family-comedy is proving to be a monster hit, and Disney is already counting its profits. With a modest production budget of USD 100 million (excluding marketing), the studio is laughing all the way to the bank. Let's break down why Lilo And Stitch is a box office juggernaut and how it's paving the way for massive earnings. The film's domestic performance in the US is nothing short of spectacular. It's targeting a whopping USD 450 million at the domestic box office. After its second Tuesday, it has already raked in over USD 285 million in US-Canada alone, making it the second-highest-grossing film of 2025 domestically. The film's record-breaking Memorial Day weekend debut of USD 183 million set the tone, smashing past Top Gun: Maverick 's previous record of USD 160.5 million. A strong USD 63 million second weekend confirmed that the movie is in no mood to slow down anytime soon. Internationally, the film is a powerhouse, eyeing close to USD 600 million from markets outside the US. Markets like Mexico, UK and Brazil are leading the charge. However, Asia has been a bit of a soft spot, with the film yet to open in Japan. Still, the global appetite for Lilo And Stitch is undeniable. What makes this success even sweeter for Disney is the film's modest budget. At USD 100 million, Lilo And Stitch was initially planned for Disney+ but it pivoted to theaters and that move is paying off big time. Disney's global share by the end of its run will be over USD 400 million. Add to that non-theatrical revenue streams, and the studio is looking at profits exceeding USD 500 million. A huge chunk of this comes from Lilo And Stitch merchandise, which is flying off the shelves. Directed by Dean Fleischer Camp, Lilo And Stitch stars Maia Kealoha as Lilo. Chris Sanders has given the voice for Stitch. With no major competition until mid-June, Lilo And Stitch is set to keep soaring. Disney's gamble on this live-action remake has paid off and the losses of Snow White have been comfortably recovered.
Time of India
8 hours ago
- Time of India
Kanye West wants to fix things with Jay-Z? Rapper admits he ‘dreams' of apologising to former mentor amid online chaos
Kanye West aka Ye is serving chaos again, but holding the controversy, this time it might be growth. In a surprising twist of emotional transparency, the rapper took to X (formerly Twitter) to share that he 'dreams' of apologising to none other than Jay-Z, his former collaborator, mentor, and long-time frenemy. Kanye and Jay Z performing 'N***** in Paris' at SXSW 2014. This is currently their last performance together. They have not shared the stage From MAGA hats to 'I'm sorry': Ye hints at a Jay-Z reconciliation This comes after a messy few months where West stirred the internet by making pointed comments about Beyoncé and Jay-Z's twins, Rumi and Sir Carter. The backlash was swift, with many calling it a new low. But Kanye, perhaps in a rare moment of reflection, recently tweeted (now deleted), 'I'm sorry Jay Z,' followed by a confession that he felt abandoned by the very industry he once considered family. Apparently, the spark that led to their fallout? According to Ye, it was a creative clash over a lyric in Jail from his Donda album—specifically one involving West's infamous red MAGA hat. West wanted a line removed, but Jay allegedly refused to budge. The tension has clearly simmered ever since. Beyoncé and Jay Z to Kanye West's apology. Kanye West shares tweets about Beyoncé, Jay-Z and their children. But that's not all, Kim K's still in the firing line Of course, it would not be a Kanye moment without dragging Kim Kardashian into the chaos. The Heartless rapper let loose a barrage of rage tweets targeting his ex-wife and the entire Kardashian clan. Ye complained about his lack of control over parenting decisions, from school choices to lipstick permissions, calling the Kardashians a 'mob' influenced by Hulu, Disney, and a larger media conspiracy. 'i wouldn't be sitting here today if it wasn't for helped Me. Period. In every single way that you can think' - Kanye West on Jay-Z JAY-Z & Kanye West performs one of their most slept on collabs, 'New Day'. Both rappers' verses are about fatherhood and their unborn sons. Ironically enough, they both ended up having daughters first❤️🤣 He did not stop there. West dropped a bomb by stating he regretted having children with Kim and should have 'slept with Paris Hilton instead.' From wanting to make peace with Jay-Z to publicly regretting his family choices, Kanye West's timeline reads like a tabloid fever dream. Whether this apology leads to a Roc-A-Fella reunion or just another online spiral, one thing is clear: the man knows how to keep the internet talking.
