Development, casting, marketing and finance roles among those affected by latest restructuring
Disney has laid off several hundred staff across its TV, film and finance divisions around the world, in the latest round of cuts to hit the Mouse House in recent years.
Casting, development and marketing teams within the Disney Entertainment unit are all believed to have been hit, as chief exec Bob Iger attempts to achieve his 2023 stated plan to save $7.5bn by reorganising the company.
No teams have been eliminated entirely but senior US execs at Hulu, ABC and 20th Television have either left as a result of today’s cuts or are departing after their contracts were not extended.
Among them are Hulu originals vice president of development Tony Tompson, vice president of series at 20th Television Crystal Holt, and ABC Hulu’s vice president of drama development Collin Sapera, according to US trade Deadline.
“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,” a spokesperson said.
“We have been surgical in our approach to minimise the number of impacted employees,” the spokesperson added.
The specific numbers of jobs being cut has not been confirmed by Disney, while the impact it has on the company’s operations outside of the US is unclear at this stage.
The round of lay-offs are, however, just the latest cuts to hit Disney staffers, with 200 jobs being eliminated in March, mainly across its TV networks and ABC News group.
Disney also cut 300 corporate role in September and closed ABC Signature late last year, moving its team into 20th Television with 30 jobs going. Cuts over the past year have also hit divisions such as National Geographic, where 60 roles were axed.
The cuts come amid an improving picture for Disney, which employs around 233,000 workers globally. The company saw revenues rise 7% in Q2 to $23.6bn year on year, with income before tax up $2.4bn to $3.1bn.
Its entertainment division has also improved its performance, with revenues up almost 10% to $10.68bn and profits increasing 60% to hit $1.26bn. Within that, Disney’s direct-to-consumer division saw revenues climbing 8% to $6.12bn, and profits rose from $289m in Q2 2024 to $336m this year.
Linear networks saw revenue declines of 13% but profits were up 2% to $769m.
ENDS
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