Location: New York, NY, USA.
Department affected: ABC News and Disney Entertainment Networks.
Based on news reporting.
The Walt Disney Company has announced layoffs affecting 700 employees at ABC News and Disney Entertainment Networks. This decision comes as part of a broader restructuring effort aimed at streamlining operations and reducing costs amid ongoing financial challenges. The layoffs are set to take effect immediately, with impacted employees notified on October 12, 2023. Disney's leadership has indicated that these cuts are necessary to adapt to changing market conditions and to focus on core business areas. The company continues to face pressures from declining advertising revenues and increased competition in the media landscape.
The Walt Disney Company cut 700 jobs affecting its ABC News and Disney Entertainment Networks team as of October 12, 2023.
That is roughly 0.4% of the 173,250 people The Walt Disney Company employs.
LayoffTalk has tracked 34 layoff events at The Walt Disney Company since September 2020, affecting a combined 45,999 employees.
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