- 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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