Trump has begun another trade war. Here's a timeline of how we got here
Canada's leader laments lost friendship with US in town that sheltered stranded Americans after 9/11
Chinese EV giant BYD's fourth-quarter profit leaps 73%
You're an American in another land? Prepare to talk about the why and how of Trump 2.0
Chalk talk: Star power, top teams and No. 5 seeds headline the women's March Madness Sweet 16
Purdue returns to Sweet 16 with 76-62 win over McNeese in March Madness
The Walt Disney Company eliminated several hundred positions across its operations, marking the fourth round of workforce reductions in less than 12 months as the entertainment giant grapples with mounting financial pressures in traditional television markets.
The latest cuts affected film and television marketing teams, television publicity departments, casting and development divisions, and corporate financial operations, according to people familiar with the matter. Employees in both domestic and international offices received termination notices as part of the reduction.
Disney declined to specify the exact number of positions eliminated in this round. The company previously cut 200 workers three months ago, including staff at ABC News in New York and Disney-owned entertainment networks. That reduction represented a 6% decrease in staffing amid declining television ratings and revenue.
The Burbank-based company has eliminated more than 7,000 jobs since 2023, with its traditional television and film units bearing the heaviest impact over the past year. Chief Executive Bob Iger acknowledged to investors that Disney had been producing too many shows and movies in its effort to compete with Netflix.
Disney accelerated its programming expansion while preparing to launch Disney+ in late 2019, requiring additional staff to manage the increased content pipeline. The company has since shifted strategy, focusing on creating fewer, higher-quality productions that meet Disney's established standards.
Budget pressures have intensified after Disney promised investors its direct-to-consumer services would achieve profitability last year. The streaming division, which includes Disney+, Hulu, and ESPN+, lost billions of dollars over several years before reaching profitability last fall.
The streaming landscape presents ongoing challenges for Disney, as subscribers prove to be more volatile than traditional cable television customers. Cord-cutting has severely impacted one of Disney's most dependable revenue streams, creating financial uncertainty for the company.
The eliminations occurred three weeks after Disney presented its fall programming lineup to advertisers, emphasizing sports personalities like Peyton Manning and Eli Manning rather than entertainment programming talent. The company's television properties have experienced dramatic audience declines as viewers migrate to streaming platforms.
ABC's prime-time schedule lost considerable viewership this season. The network managed only three shows in Nielsen's top 20 rankings for the recently concluded broadcast television season. "Monday Night Football on ABC" ranked seventh with more than 10 million viewers, "Saturday Night Football" placed 18th with 7.4 million viewers, and freshman drama "High Potential" reached 20th place with 7.1 million viewers.
ESPN avoided workforce reductions as the sports division prepares for its standalone streaming service launch this fall, according to sources familiar with the decision. ABC News also largely escaped the current round of cuts, though the division lost approximately 40 employees in October.
Disney's film studio recently experienced success with live-action "Lilo & Stitch," which generated $610 million in global ticket sales. The company reported strong fiscal second-quarter earnings last month, with revenue reaching $23.6 billion for the three months ending March 29, representing a 7% increase from the previous year. Earnings before taxes totaled $3.1 billion, up $2.4 billion from the same period last year.
Warner Bros. Discovery and Paramount Global have implemented similar workforce reductions, while technology companies, including Amazon and Apple, have also eliminated positions.
NBCUniversal cut 54 jobs in Los Angeles in late May, while Six Flags Entertainment Corporation laid off 140 workers, according to state employment records. Disney represents one of Southern California's largest private-sector employers, making the continued workforce reductions notable for the regional economy.
