Disney Layoffs: US-Based Media and Entertainment Giant To Lay Off Employees From Its ABC News, Local Media Business Amid Cost-Cutting and Business Restructuring
Burbank, October 3: Disney layoffs, initiated as a cost-cutting measure, will hit 75 operational-stationed employees and those working in the ABC News. The Walt Disney Company has already confirmed that its job cuts plan would be initiated to save costs and restructure its business. Previously, the Walt Disney layoffs affected around 140 employees and recently the company announced to cut 300 jobs from various divisions. With the workforce reduction measure, the company aims to manage its current resources to boost the creativity and innovation that the customers expect from it.
Nearly 75 staffers in Disney’s ABC News and local operations will be laid off as the entertainment giant aims to cut costs amid going through the difficult operating environment, according to a report by Variety. The report said that The Walt Disney Co. recently notified employees about the job cuts. The report said that the Disney layoffs affecting 75 employees would be evenly split between divisions like the national newsgathering team arm and its local media business. Disney Layoffs: The Walt Disney Company Lays Off Hundreds Corporate-Level Employees As Par of Cost-Cutting, Restructuring Business.
Disney’s ABC News has eight stations in New York, Philadelphia, Los Angeles, and San Francisco. These stations will likely be affected by the job cuts. ABC News is popular for programs like “Good Morning America” and “World News Tonight.” The US-based entertainment and media giant will cut these roles as part of its business restructuring process and cost-cutting efforts. Paramount Global Layoffs 2nd Phase Begins as US Entertainment Giant Aims for Improving Profitability and Cut Costs: Report.
Previously, the company announced that it would lay off 300 employees from multiple departments, such as communication, finance, human resources, and legal. The Disney layoffs did not include the staff from ESPN and theme parks. However, the recent layoffs initiated by the media and entertainment giants hint at the struggles faced by the entertainment and media industry in 2024. This year, rivals like Warner Bros. Discovery and Paramount Global also cut jobs due to industrywide struggles.
(The above story first appeared on Today News 24 on Oct 03, 2024 02:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
