Disney is laying off several hundred employees globally as part of its response to a significant decline in traditional TV audiences. The cuts primarily affect roles in marketing, publicity, casting, and corporate finance, with the majority being based in the U.S. This follows a series of headcount reductions as the company adapts to the migration of audiences toward streaming platforms. CEO Bob Iger has previously announced broad job cuts, emphasizing a need to streamline operations. Despite these challenges, Disney's streaming segment has recently become profitable, indicating a shift in its business strategy.
Disney is experiencing declining TV audiences, prompting the company to lay off several hundred employees across various departments, particularly in the US.
The recent layoffs, affecting primarily the Disney Entertainment division, are part of a larger trend as traditional audiences shift towards streaming platforms.
Bob Iger's return as CEO initiated significant job cuts at Disney, targeting 7,000 jobs to streamline operations amid evolving entertainment consumption.
While facing challenges, Disney's streaming business has turned profitable, and the company is exploring growth opportunities, including partnerships for theme parks.
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