Disney has announced mass layoffs in its film, television and finance departments all around the world.
According to BBC, in the largest round of layoffs in months and the fourth in the past year, Disney has terminated hundreds of its employees.
The cuts impact corporate financial operations, film, television, marketing, television publicity, and casting and development departments, with most of the laid-off staffers based in Los Angeles.
Why is Disney laying off hundreds of employees?
The Disney representative told BBC, "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.”
As per the announcement, the entertainment giant was left with no choice but to lay off as viewers move away from cable TV subscriptions.
The spokesperson further added, "We have been surgical in our approach to minimise the number of impacted employees.”
Moreover, Disney laid off almost 6%, or fewer than 200 people, in the ABC News Group and Disney Entertainment Networks two months ago.
Disney layoffs in 2023:
Back in 2023, Disney announced major layoffs. At that time nearly 7,000 workers were let go as part of a drive by chief executive Bob Iger to save $5.5bn (£4.1bn).
To note, the company revealed that no department will be closed down entirely during the 2025 layoffs.
