Walt Disney is planning to cut several hundred jobs across its film, television, and corporate finance departments, a source close to the company revealed on Monday.
The layoffs will impact various teams worldwide, including film and TV marketing, TV publicity, casting, and development.
This move is part of Disney’s broader strategy to adjust to changing viewer habits, as audiences shift from traditional cable TV to streaming platforms. In 2023, Disney had already reduced its workforce by 7,000 employees to save $5.5 billion in costs.
Earlier this year, Disney also laid off nearly 6% of staff—fewer than 200 people—within the ABC News Group and Disney Entertainment Networks.
Despite these cuts, Disney’s latest earnings report in May surpassed Wall Street expectations. The company saw an unexpected boost from its Disney+ streaming service and strong performance from its theme parks.
Since the report, Disney’s shares have risen 21%, though they dipped slightly by 0.3% to $112.62 on Monday afternoon.
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