Latest news with #ABCNewsGroup
RTÉ News
7 days ago
- Business
- RTÉ News
Disney laying off several hundred in film, TV and finance
Media company Walt Disney is laying off several hundred employees in film, television and corporate finance, a source familiar with the matter has said. 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.
Fast Company
03-06-2025
- Business
- Fast Company
Disney announces hundreds of global layoffs. Here are the teams that will be affected
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.
Time of India
03-06-2025
- Business
- Time of India
Disney laying off several hundred in film, TV, finance
HighlightsWalt Disney Company is laying off several hundred employees across film, television, and corporate finance as part of a business strategy shift in response to declining cable TV audiences. In 2023, Walt Disney Company cut 7,000 jobs aimed at saving $5.5 billion in costs, following earlier layoffs affecting nearly 200 positions in the ABC News Group and Disney Entertainment Networks. Despite the layoffs, Walt Disney Company's recent earnings report showed strong results, with an unexpected boost from the Disney+ streaming service and a 21% rise in shares since the report. 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.
Time of India
03-06-2025
- Business
- Time of India
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.
7NEWS
03-06-2025
- Business
- 7NEWS
Disney axing hundreds of workers in film, TV, finance despite huge 2024 with Inside Out 2, Deadpool and Wolverine and Moana 2 hits
Media company Walt Disney is laying off several hundred employees in film, television and corporate finance, a source familiar with the matter says. The lay-offs 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 7000 jobs as part of an effort to save $US5.5 billion ($A8.5 billion) in costs. Disney also laid off nearly 6 per cent, 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. The cuts come despite Disney recording a huge 2024 with three of the top five movies of the year in the US — Inside Out 2, Deadpool & Wolverine and Moana 2 — coming from its studios. The company also had the biggest movie of 2024 — Inside Out 2 — which became the biggest animated movie of all time, not accounting for inflation. The jump came after a quieter 2023 for the studio which didn't have a movie at the very top of the charts. In mid-December, it also crossed the $US2 billion domestic mark, the second time any studio has done so since 2019 (which was also Disney, in 2022).
