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Key Points

Disney is undergoing significant layoffs as part of its ongoing cost-cutting measures led by returning CEO Bob Iger. The latest wave affects hundreds of employees in divisions like film marketing, television publicity, and corporate finance. These layoffs align with Disney's shift to prioritize streaming services, amid economic challenges and changing media consumption patterns. Iger's strategy aims to achieve $7.5 billion in savings, indicating a substantial restructuring within the company.

Key Points: Disney Layoffs Challenge Bob Iger's Cost-Cutting Strategy

  • Disney layoffs impact film and TV marketing divisions
  • Bob Iger leads cost-cutting strategy focusing on streaming
  • Los Angeles-based staff heavily affected
  • Restructuring includes the closure of ABC Signature and consolidation with 20th Television
2 min read

Disney lays off hundreds of employees across film, television and other division units

Disney lays off hundreds as Bob Iger targets $7.5B in savings amid streaming focus.

"This is the largest round of layoffs in ten months. - Deadline"

Washington DC, June 3

Major layoffs are underway at the Walt Disney Company, affecting hundreds of employees across Disney Entertainment divisions, including marketing for film and television units, reported Deadline.

Apart from these divisions, the layoffs will also affect the employees in the television publicity, casting, development and Disney's corporate financial operations divisions.

Deadline cited the sources and reported that the size of the cuts on Disney Entertainment's film and TV sides is comparable. The majority of the Disney Entertainment Television staffers are said to be based in Los Angeles.

According to the outlet, this is the fourth and largest round of layoffs in the past ten months that have affected various Disney television operations.

They are part of an ongoing cost-cutting process at the traditional media companies as they reshape their business to focus on streaming while facing economic headwinds.

Upon his return as CEO, Disney's Bob Iger has established a goal of at least 7.5 billion USD in cost reductions at the start of 2023, with about 7,000 jobs eliminated that year.

Earlier this year, in March, just under 200 Disney employees were laid off, representing almost 6% of the workforce in the ABC News Group and Disney's Entertainment Networks, including Freeform and FX, reported Deadline.

Before that, a big restructuring at the Walt Disney Company happened in October, involving the shutdown of ABC Signature, with its operations folded into 20th Television and the consolidation of ABC and Hulu Originals scripted drama and comedy teams, reported Deadline.

It resulted in about 30 Disney Entertainment Television layoffs.

According to the outlet, lower-level development executives, including a manager of drama programming at ABC Hulu, have also been affected.

- ANI

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Reader Comments

R
Rahul K.
Very sad to see so many talented people losing jobs. Disney+ Hotstar is quite popular in India, but I wonder if they're cutting costs here too? Their Indian content team has been doing great work with local shows. Hope they don't reduce investments in regional content.
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Priya M.
This is why I tell my engineering students to think twice before joining media/entertainment sector. Tech jobs may be more stable. Disney's layoffs show even big companies aren't safe. 😕
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Amit S.
Maybe Disney should focus less on pushing woke content and more on good storytelling? Their recent movies haven't done well at Indian box office either. Quality over quantity!
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Neha T.
As someone who lost job during pandemic, my heart goes out to these employees. But streaming wars are getting tough - even in India we have 5-6 major platforms now. Too much competition!
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Vikram J.
Interesting to see traditional media struggling while Indian OTT platforms like JioCinema are growing. Maybe Disney should learn from how Indian companies are balancing costs and content.
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Sanya R.
Hope this doesn't affect Marvel and Star Wars content! As an Indian fan, I've invested so much in these franchises. But 7000 jobs cut is massive - corporate greed at its worst. 😠

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