Walt Disney Co. launched another deep round of layoffs on Monday, notifying several hundred Disney employees in the U.S. and abroad that their jobs were being eliminated amid an increasingly difficult economic environment for traditional television.
People close to the Burbank entertainment giant confirmed the cuts, which are hitting film and television marketing teams, television publicity, casting and development as well as corporate financial operations.
The move comes just three months after the company cut 200 workers, including at ABC News in New York and Disney-owned entertainment networks. At the time, the division said it was cutting its staff by 6% amid shrinking TV ratings and revenue for traditional television.
Disney declined to specify how many workers were losing their jobs. The cutbacks come after Disney Chief Executive Bob Iger acknowledged to Wall Street that Disney had been pumping out too many shows and movies to compete against Netflix. The programming build-up accelerated as the company prepared to launch Disney+ in late 2019, and it bulked up its staff to handle the more robust pipeline.
But the company since has retrenched, recognizing the need to focus on creating high-quality originals that meet Disney’s once lofty standards.
ABC News shed about 40 employees last October. The company’s TV stations also lost staff members.
The ABC television network and Disney-owned entertainment channels have seen dramatic audience defections as consumers switch to streaming services, including Netflix, Paramount+ and Disney+.
Hollywood trade site Deadline first reported the news.
