Walt Disney is laying off several hundred employees across film, television, and corporate finance departments. This decision comes as the company reassesses its business strategies following the trend of audiences migrating from cable TV to streaming platforms. Disney had previously cut 7,000 jobs in 2023 to save costs. Despite these layoffs, Disney's most recent earnings report revealed stronger-than-expected results, particularly from Disney+ and theme parks, indicating a potential rebound in some areas of its business amidst tough changes in the media landscape.
Disney’s recent layoffs are part of a broader strategy to adapt to changing audience behaviors, as both cable and traditional media continue to shift towards streaming services.
The company’s latest earnings report shows a surprising uptick in Disney+ subscriptions and significant performance from theme parks, indicating potential areas of growth amidst cost-cutting measures.
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