Disney lays off hundreds in cost cutting measure
300 jobs in legal, human resources, finance and communications were impacted.
Walt Disney Co. is laying off workers at the corporate level as part of a continuing effort to improve the profitability of the business.
“As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently,” the company said Wednesday in an emailed statement.
The website Deadline reported that about 300 jobs in legal, human resources, finance and communications were impacted. Divisions including ESPN and theme parks weren’t involved in this round.
Disney embarked on cost cutting last year that ultimately involved 8,000 positions. The company, like rivals Paramount Global and Warner Bros. Discovery Inc., has been struggling with a decline in traditional TV viewing in favor of a new generation of streaming services.
