Walt Disney is laying off employees in its television unit. This will result in a reduction of two percent of the workforce at Disney Entertainment Television, which is about 140 employees. National Geographic will also see a reduction in its team by 13 percent. The layoffs are a cost-cutting measure and will impact ABC-owned television stations, Freeform (the cable channel), Disney’s linear networks, unscripted, marketing, and publicity.
National Geographic will experience the highest number of job cuts, with about 60 roles being eliminated. The cable network industry is facing declining viewership, and the streaming business has become increasingly competitive.
Disney’s CEO, Bob Iger, announced the plan to streamline operations in February 2023 amid economic uncertainty and pressure from Wall Street regarding the profitability of the company’s streaming services. Disney began informing employees of the layoffs on 27th March 2023, with the initial job cuts affecting divisions such as ABC News.
In February 2024, Disney officials announced a second round of layoffs as part of ongoing cost-cutting measures, affecting more employees. By 29th February 2024, the company aimed to complete 4,000 out of the 7,000 job cuts planned earlier in the year, with an objective to save $5.5 billion.
A few weeks ago, Fox Entertainment announced a restructuring exercise, involving 30 job cuts. The reorganization aimed to eliminate redundancies and align operations with the company’s growth strategies.
