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Disney is laying off several hundred people globally, the company confirmed to Business Insider, as the entertainment giant grapples with a declining TV audience.
The cuts primarily impact the marketing for film and TV in the company’s Disney Entertainment division, most of whom are in the US. A smaller number of people in publicity, casting, and development are being laid off as well. Some people in corporate finance, who are spread globally, were also affected. No teams were eliminated.
Disney has made several head count reductions in recent years as the TV audiences migrate to streaming platforms, where profits have been slow to follow.
In March, the company cut nearly 6%, or about 200 people, in its ABC News Group and Disney Entertainment Networks.
Last fall, the company let go of around 300 people in corporate departments following a layoff of around 140 people, including at National Geographic and Freeform.
Bob Iger laid the groundwork for broad cuts when he returned in late 2022 for his second time as CEO, saying in 2023 that he would cut 7,000 jobs.
Disney has turned a corner in streaming, making that business profitable for the first time last year. It’s also looking for growth in its parks and experiences business, recently announcing it would partner to build a theme park in Abu Dhabi.
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