Disney laying off another 200 employees in ABC, entertainment TV networks
More than 8,000 jobs cut since 2023 as more layoffs announced by company, Bloomberg reports
ISTANBUL
US-based entertainment giant Walt Disney is laying off another 200 of its employees across its ABC News and entertainment TV networks, according to an internal memo.
The New York-based ABC News division is impacted by the majority of the layoffs, Bloomberg reported on Wednesday.
According to the memo, production units such as ABC News Studios, 20/20, and Nightline will be combined, and affected staff members will be informed on Wednesday.
“ABC News Group and Disney Entertainment Networks continually evaluate new ways to effectively manage resources and boost efficiencies,” it said.
More than 8,000 positions have been removed by Disney since 2023 in an attempt to reduce yearly expenses by $7.5 billion.
Higher programming expenses and fewer viewers on entertainment-focused channels caused Disney's broadcast and cable TV divisions to see a decline in revenue and profit in their most recent earnings statement.
