Walt Disney is cutting several hundred jobs across its film, television, and corporate finance divisions, according to a source familiar with the matter.
The layoffs impact global teams, including those in film and TV marketing, publicity, casting, and development.
These job cuts come as Disney continues to adjust its business strategy amid the ongoing shift from traditional cable to streaming services.
The company had already eliminated 7,000 positions in 2023 in an effort to reduce costs by $5.5 billion.
In March, Disney also laid off nearly 200 employees, or around 6%, from its ABC News Group and Disney Entertainment Networks.
Despite these cuts, Disney’s May earnings report surpassed Wall Street expectations, thanks to a surprise boost from Disney+ and strong theme park performance.
Disney shares have climbed 21% since that report but closed slightly down at $112.95 on Monday.
