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.
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