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Disney Layoffs To Impact Almost 200 Employees Across News Division And Entertainment Networks

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The Walt Disney Co. is going through a round of layoffs today, impacting just under 200 employees, or almost 6% pf the workforce in the ABC News Group and the company's entertainment networks. The majority of the impacts will be at ABC News,
Disney is set to lay off nearly 200 employees across its news division and entertainment networks as part of a broader cost-cutting initiative. This includes staff from ABC News, Disney Entertainment, ESPN, and other units, with the layoffs affecting various roles from production to executive positions. The cuts are part of Disney's strategy to reduce its workforce by 7,000 employees, aiming to save $5.5 billion in costs. This move comes amidst a challenging economic environment and a shift towards streaming services, with Disney also planning to integrate Hulu into Disney+ and reduce content spending. The layoffs are expected to be completed by the end of the week, with some employees already informed of their termination.

Read the Full Deadline Article at:
[ https://www.msn.com/en-us/entertainment/tv/disney-layoffs-to-impact-almost-200-employees-across-news-division-and-entertainment-networks/ar-AA1Aj41J ]