Hundreds of Disney employees terminated from company after layoffs
Disney implemented its fourth and largest round of layoffs in the past year, primarily affecting its television operations.
The layoffs impact various departments, including corporate financial operations, film, television, marketing, television publicity, casting, and development, with most affected staff based in Los Angeles.
Previous rounds of layoffs included 200 workers three months ago, impacting ABC News in New York and Disney -owned entertainment networks, and another cut of about 40 employees at ABC News in October.
The cost-cutting measures are partly attributed to the rise of streaming platforms, leading consumers to shift away from traditional TV.
In 2023, Disney CEO Bob Iger set a goal to reduce operating costs by $7.5 billion, resulting in the elimination of 7,000 jobs; he also emphasized plans to create new jobs in experience sectors and theme parks.
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