Magic Kingdom's Media Makeover: 200 Jobs Vanish in Disney's Latest Plot Twist

In a major restructuring effort, Disney will be letting go of around 200 staff members at its ABC News Group and Disney Entertainment Networks. This is part of an across-the-board cost-cutting initiative that impacts roughly 15% of the news division's staff. The reductions cut across many different functions, from on-air talent to production personnel. Disney Chief Executive Bob Iger attributed the need to conform to evolving viewing habits and optimize operations in an uncertain economic landscape. The step comes after successive rounds of cuts at Disney, a reflection of continued disruption across the media landscape. The industry sees this as a turning point for Disney as it transitions toward a leaner, digital-focused strategy.

 

Sources: CNBC, Variety, The Hollywood Reporter, Disney Corporate Communications