Walt Disney has announced further job cuts, with an additional 200 employees set to be laid off across its ABC News and entertainment TV networks, according to an internal memo. The majority of these layoffs will impact the New York-based ABC News division.
The memo detailed that several production units, including ABC News Studios, 20/20, and Nightline, will be consolidated as part of the company's ongoing efforts to streamline operations and boost efficiency. Affected staff members are expected to be informed on Wednesday.
This move is part of a broader cost-cutting initiative by Disney, which has eliminated more than 8,000 positions since 2023 in a bid to reduce annual expenses by $7.5 billion. Recent earnings reports from Disney's broadcast and cable TV divisions cited higher programming costs and a decline in viewership on entertainment-focused channels as key factors contributing to lower revenue and profits.
Disney executives stated that the evaluation of resources and operational efficiency remains a continual priority as the company adjusts to evolving market conditions in the competitive entertainment landscape.
A Japanese court sentenced 45-year-old Tetsuya Yamagami to life imprisonment for fatally shooting former Prime Minister Shinzo Abe, public broadcaster...
Türkiye is closely monitoring developments in Syria and considers the country’s unity and territorial integrity vital for regional stability, Presi...
Azerbaijan said on on Wednesday that it had accepted an invitation from U.S. President Donald Trump to join his 'Board of Peace' for Gaza....
At least four people were killed on Tuesday as floods swept across Tunisia during the worst torrential rain for more than 70 years in some regions, an...
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled i...
Uzbekistan is exploring potential cooperation with The Walt Disney Company on creative and tourism projects, including a long-term proposal to build a Disneyland-style theme park, following talks in Tashkent.
Disney’s Zootopia 2 dominated the global box office with a massive $556 million debut over the Thanksgiving weekend, marking the fourth-highest worldwide opening of all time.
Walt Disney is bracing for a potentially long and contentious battle with YouTube TV over the distribution of its television networks, a development that has raised concerns among investors about the future of its already struggling television business.
After a six-day suspension, Jimmy Kimmel Live! is set to return to ABC on Tuesday. The suspension followed controversial comments made by host Jimmy Kimmel regarding the assassination of conservative activist Charlie Kirk.
Italian fashion designer Valentino Garavani has died at the age of 93, his foundation said on Monday.
More than 100 vehicles were involved in a massive pileup on Interstate 96 in western Michigan on Monday (19 January), forcing the highway to shut in both directions amid severe winter weather.
A fresh consignment of precision-guided munitions has departed from the Indian city of Nagpur bound for Yerevan, marking the latest phase in the rapidly expanding defence partnership between India and Armenia.
U.S. President Donald Trump said he would impose a 200% tariff on French wines and champagnes after France declined to join his proposed Board of Peace on Gaza initiative.
Syria's Interior Ministry said on Tuesday that about 120 Islamic State detainees escaped from Shaddadi prison, after the Kurdish website Rudaw reported that a spokesperson for the Kurdish-led Syrian Democratic Forces, Farhad Shami, said around 1,500 Islamic State members had escaped.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
Global markets are rattled after U.S. President Donald Trump threatened new tariffs on eight European countries over Greenland, sending the euro to a seven-week low and raising concerns about renewed transatlantic trade tensions.
Hong Kong and Shanghai will sign a memorandum of understanding next week to establish a cross-border gold trade clearing system, a move aimed at boosting Hong Kong’s role as an international gold trading hub, Financial Secretary Paul Chan said.
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artificial intelligence firm, according to a court filing made public on Friday.
The UK economy grew more strongly than expected in November, according to official figures, offering signs of resilience after months of weak performance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment