Disney Cuts Hundreds More Jobs in Restructuring

Disney Announces Further Layoffs: Hundreds of Jobs Cut in Restructuring Move Walt Disney Company announced further job cuts on Monday, affecting hundreds of employees across its film, television, and finance divisions. This latest round of layoffs is part of a broader cost-cutting and restructuring effort aimed at adapting to the changing media landscape and viewer preferences. The cuts encompass various roles globally, including marketing, advertising, casting, and content development. A source close to the matter confirmed the layoffs, stating, "This is a necessary step to streamline operations and align with our long-term strategic goals." This follows a similar move in 2023 when Disney laid off 7,000 workers to save $5.5 billion in operating costs. Despite the layoffs, Disney's recent financial report for May showed better-than-expected results, primarily due to a surge in Disney+ subscriptions and strong performance from its theme parks. However, the company's stock price has dropped 21% since the financial report's release. The layoffs highlight the ongoing challenges faced by traditional media companies as they transition to streaming platforms and compete for audience attention in a rapidly evolving market. Despite the difficult decision, the company remains optimistic about its future prospects.