The Walt Disney Company has begun a significant round of layoffs affecting several hundred employees worldwide,as per Deadline.
The job cuts span multiple departments within Disney Entertainment, particularly impacting film and television marketing, TV publicity, casting, and development. In addition, positions within Disney’s corporate finance division have also been affected.
According to industry sources, the reductions in staffing are substantial across both Disney’s film and television units, though no entire teams are being disbanded. Most of the affected employees in Disney Entertainment Television are reportedly based in Los Angeles.
This marks the fourth and most extensive wave of layoffs at Disney over the past 10 months, as the company continues its broader restructuring strategy aimed at streamlining traditional media operations and pivoting toward streaming. The company’s CEO, Bob Iger, reintroduced a cost-cutting mandate upon his return, targeting at least $7.5 billion in savings. In 2023 alone, Disney eliminated approximately 7,000 jobs.
Earlier this year in March, nearly 200 employees were laid off across ABC News Group and other entertainment units, including FX and Freeform. Last October, Disney shut down ABC Signature, folding it into 20th Television, and merged ABC and Hulu Originals drama and comedy teams, leading to around 30 layoffs. In July 2023, about 140 employees were let go from Disney Entertainment Television, including 60 at National Geographic.
Despite these cuts, Disney reported better-than-expected Q2 earnings last month, with strong performances from its theme parks and sports sectors. Streaming also showed growth, with direct-to-consumer profits rising by $289 million to $336 million.
The timing of Disney’s layoffs coincides with similar cost-reduction efforts at NBCUniversal, which is reorganising several cable networks under a newly formed entity named Versant.
