Disney plans to reduce approximately 6% of its workforce, equating to around 200 positions, within its ABC News Group and Disney Entertainment Networks units, as reported by The Wall Street Journal.
The layoffs are expected to be announced as early as Wednesday, according to sources familiar with the matter. This restructuring comes as Disney addresses a decline in traditional television viewership, with consumers increasingly shifting toward streaming services.
In the ABC News division, notable changes include the consolidation of the “20/20” and “Nightline” programs into a single unit. Additionally, the political and data-driven news site 538, which employs about 15 individuals, will be discontinued. The popular news talk show “Good Morning America” will see all its hours consolidated under a single production leader, streamlining its production process.
Within the Disney Entertainment Networks unit, staffing reductions will occur in the program planning and scheduling departments. Despite these cuts, Disney reported a 44% increase in adjusted per-share earnings, reaching $1.76 for the October-December quarter. Operating income for Disney’s Entertainment unit, encompassing film, television, and streaming, nearly doubled from the previous year to $1.7 billion, bolstered by the strong holiday box office performance of the animated sequel “Moana 2.”
Disney and ABC News have not yet responded to requests for comment regarding these developments.