Disney Announces Another Round of Layoffs Amid Industry Shift

Disney is once again making job cuts, this time laying off several hundred more employees across its global operations. The layoffs are hitting departments like film, television, casting, marketing, and corporate finance.

The company confirmed the move in a statement, saying it’s part of an effort to adapt to an industry that’s changing faster than ever. “As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fuelling the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a spokesperson told the BBC.

Streaming Shift Sparks Changes

Like many media companies, Disney is feeling the pressure as viewers cancel traditional cable subscriptions and turn to streaming platforms. This shift has forced the entertainment giant to rethink how it operates.

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Disney+ has continued to grow, helping the company post strong earnings in May. Their first-quarter revenue reached $23.6 billion, up 7% from the same time last year. But even with positive earnings, Disney is still focused on cost-saving strategies, building on the 7,000 job cuts made in 2023 under CEO Bob Iger’s $5.5 billion savings plan.

Employees Affected Across Key Teams

This latest round of layoffs impacts teams that are key to Disney’s entertainment pipeline. Employees in film and TV marketing, casting and development, and corporate finance have all been affected. Disney insists that no full departments are being shut down, and they’re aiming to be careful and precise in their cuts. “We have been surgical in our approach to minimise the number of impacted employees,” said the spokesperson.

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Box Office Wins and Losses

Disney has had mixed success at the box office this year. Snow White, a live-action remake, underperformed despite high expectations. On the other hand, Lilo & Stitch smashed records during the Memorial Day weekend, raking in over $610 million globally since May.