Disney Makes Hundreds More Layoffs As It Cuts Costs

Disney recently made headlines with the announcement of additional layoffs affecting employees in its film, television, and finance departments on a global scale. This strategic decision reflects the ongoing shifts in the entertainment industry, notably the transition from traditional cable TV to streaming services.

A spokesperson for Disney emphasized the company’s dedication to streamlining its operations without compromising on creativity and innovation.

This stance underscores Disney’s proactive approach to meeting the evolving demands of consumers amidst a rapidly changing industry landscape.

Building on the significant layoffs in 2023 that resulted in approximately 7,000 job cuts, Disney is now implementing targeted reductions across various teams, including marketing, casting, development, and corporate finance departments.

The company’s focus is on minimizing the impact on employees while optimizing operational efficiency.

Global implications of workforce changes

With a workforce of 233,000 employees, including over 60,000 located outside the US, Disney’s organizational restructuring carries implications for its international operations.

Despite these adjustments, Disney remains committed to ensuring operational continuity and has no plans to close down entire teams.

Despite the restructuring efforts, Disney exceeded expectations with first-quarter revenue reaching $23.6 billion, marking a 7% increase from the previous year.

This growth was largely fueled by the continued success of Disney+ and the steady influx of new subscribers to the streaming service.

Disney’s recent film releases have presented a mix of triumphs and setbacks. While the live-action remake of Snow White faced challenges due to mixed reviews, Lilo & Stitch emerged as a blockbuster hit, setting new box office records during the Memorial Day weekend in the US and amassing over $610 million in global ticket sales since its May debut.

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