Disney has announced that it is laying off several hundred more people worldwide, including film, television, and finance employees.
The company is reportedly under pressure as viewers abandon cable TV subscriptions in favor of streaming platforms.
“As our industry is rapidly transforming, we continue to evaluate ways to effectively manage our business while supporting the modern creativity and innovation that consumers value and expect from Disney,” a company representative said.
The latest cuts follow large-scale layoffs announced in 2023. At that time, approximately 7,000 employees were laid off as part of Disney CEO Robert Iger’s effort to save $5.5 billion.
The cuts will affect many teams, including the film and television marketing departments. In addition, the layoffs will affect employees in Disney’s casting, development, and corporate finance departments. At the same time, the company has assured that no team will be completely shut down.
California-based Disney employs 230,000 people, of which just over 60,000 are outside the US. The company also owns several entertainment companies, including Marvel, Hulu, and ESPN.