Disney announces they will sack several hundred in film, TV and finance departments around the world
Media company Walt Disney is laying off several hundred employees in film, television and corporate finance, a source familiar with the matter says.
The lay-offs affect multiple teams around the world, including film and TV marketing, TV publicity and casting and development, the source said.
“As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fuelling the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a spokesperson told the BBC.
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The company also said that no teams will be closed down entirely.
Disney and other companies are reshaping their business strategies in response to the migration of cable TV audiences to streaming platforms.
In 2023, Disney cut 7000 jobs as part of an effort to save $US5.5 billion ($A8.5 billion) in costs.
Disney also laid off nearly 6 per cent, or fewer than 200 people, in the ABC News Group and Disney Entertainment Networks in March.
The company’s most recent earnings report in May exceeded Wall Street expectations with an unexpected boost from the Disney+ streaming service and strong results from theme parks.
