Disney has confirmed that it is laying off several hundred employees globally, affecting various departments including film, television, and finance. This move comes as the company faces mounting pressure due to a shift in viewer preferences from traditional cable TV to streaming services. A spokesperson stated that these layoffs are part of ongoing evaluations to streamline operations while maintaining creativity and innovation. The latest job cuts follow a significant reduction in workforce earlier this year, where around 7,000 positions were eliminated in an effort to save $5.5 billion. Impacted teams include marketing and casting, among others, but the company emphasized that not all departments would be entirely closed. Disney, which employs approximately 233,000 workers worldwide, reported a revenue increase this spring, buoyed by new subscribers to its Disney+ platform. Despite some of its recent films underperforming, such as "Snow White," the company celebrated success with "Lilo & Stitch," which set box office records during its release.
Disney Announces Additional Layoffs Amid Streaming Shift
Disney Announces Additional Layoffs Amid Streaming Shift
The entertainment giant reduces its workforce by hundreds to adapt to changing industry dynamics.
Disney Announces Additional Layoffs Amid Streaming Shift
The entertainment giant reduces its workforce by hundreds to adapt to changing industry dynamics.
Disney has confirmed that it is laying off several hundred employees globally, affecting various departments including film, television, and finance. This move comes as the company faces mounting pressure due to a shift in viewer preferences from traditional cable TV to streaming services. A spokesperson stated that these layoffs are part of ongoing evaluations to streamline operations while maintaining creativity and innovation. The latest job cuts follow a significant reduction in workforce earlier this year, where around 7,000 positions were eliminated in an effort to save $5.5 billion. Impacted teams include marketing and casting, among others, but the company emphasized that not all departments would be entirely closed. Disney, which employs approximately 233,000 workers worldwide, reported a revenue increase this spring, buoyed by new subscribers to its Disney+ platform. Despite some of its recent films underperforming, such as "Snow White," the company celebrated success with "Lilo & Stitch," which set box office records during its release.
The entertainment giant reduces its workforce by hundreds to adapt to changing industry dynamics.
Disney has confirmed that it is laying off several hundred employees globally, affecting various departments including film, television, and finance. This move comes as the company faces mounting pressure due to a shift in viewer preferences from traditional cable TV to streaming services. A spokesperson stated that these layoffs are part of ongoing evaluations to streamline operations while maintaining creativity and innovation. The latest job cuts follow a significant reduction in workforce earlier this year, where around 7,000 positions were eliminated in an effort to save $5.5 billion. Impacted teams include marketing and casting, among others, but the company emphasized that not all departments would be entirely closed. Disney, which employs approximately 233,000 workers worldwide, reported a revenue increase this spring, buoyed by new subscribers to its Disney+ platform. Despite some of its recent films underperforming, such as "Snow White," the company celebrated success with "Lilo & Stitch," which set box office records during its release.
