The Walt Disney Company, commonly known as Disney, is laying off hundreds of employees as part of a sweeping cost-cutting initiative that will affect its film, television, casting, development, and other divisions globally. The initiative will also affect the company's corporate financial operations. The majority of the Disney Entertainment Television staffers are said to be based in Los Angeles.
This is the fourth round of layoffs in the past 10 months, and it is said to be part of a cost-cutting effort that has affected Disney Television operations. Bob Iger set the pace upon his return as CEO, establishing a goal of at least $7.5 billion in cost reductions at the start of 2023, with about 7,000 jobs eliminated that year.
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In March this year, over 200 employees, or 6% of the workforce, were sacked in ABC News Group and Disney’s entertainment networks, including Freeform and FX. In October 2024, the company shut down its arm, ABC Signature, after 20th Television and the consolidation of ABC and Hulu Originals scripted drama and comedy teams. This resulted in about 30 Disney Entertainment Television layoffs.
In July 2024, Disney Entertainment Television announced that it would cut around 140 employees, representing 2% of the total workforce, 60 of them at National Geographic. The Disney layoffs also came on the heels of staff cuts at NBCUniversal, as the company was changing several cable networks into a new company named Versant.