Disney is laying off several hundred employees globally as part of cost-cutting measures.
The impacted teams are employees working on marketing for both film and television, as well as TV publicity, casting and development and corporate financial operations, a source familiar with the matter confirms to The Hollywood Reporter. While individual employees from those teams are impacted, and were notified Monday, no team itself is being eliminated, the source said.
In March, Disney cut just under 200 jobs at ABC News and at its Disney Entertainment Networks division due to economic headwinds facing the linear TV business. The cuts represented about 6 percent of the division’s workforce.
This is part of Disney’s ongoing efficiency and cost-cutting measures, which were outlined in September, as it refocuses on streaming and pushes for profitability. The Burbank-based company employs 233,000 people globally and 171,000 in the U.S., per its most recent annual report.
“We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a rep for the company stated in September. “As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently.”
In 2023, upon his return, Disney CEO Bob Iger unveiled a plan to cut 7,000 employees as part of a “strategic realignment” of the company that was instituted in multiple phases with staffers being cut across a number of months.
#Disney #Lays #Employees #CostCutting #Measure
