Disney has announced more job cuts as part of its ongoing efforts to reduce costs. Several hundred employees from different apartments are affected, including those working in film, TV, and finance. These layoffs are part of a bigger plan to keep the company competitive as more people switch from cable TV to streaming services.
The company shared that it continues to adjust its operations to stay efficient while still delivering the creative and high-quality entertainment that fans expect. This round of layoffs follows a much larger one in 2023, when Disney cut about 7,000 jobs to help save over $5.5 billion. Teams in marketing, casting, development and corporate finance are among those affected, but Disney confirmed that no full teams will be shut down.
Disney currently employs over 230,000 people, with more than 60,000 based outside the US. The company owns many well-known brands including Marvel, Hulu, and ESPN, making it one of the biggest names in global entertainment.
Despite the layoffs, Disney’s business performance has shown some positive signs. In the first quarter of the year, the company earned $23.6 billion, which is a 7% rise compared to the same time last year. This increase came mainly from growth in its Disney+ streaming service, which added more subscribers.
In terms of content, Disney released several major titles this year, including Captain America: Brave New World and a new live-action version of Snow White. However, the Snow White remake didn’t meet box office expectations due to poor reviews. On the other hand, Lilo & Stitch became a hit, breaking records during the Memorial Day weekend and earning over $610 million worldwide.
While the company faces ongoing changes, it continues to focus on creating popular content and growing its digital platforms to stay ahead in the fast-changing entertainment world.
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