Disney to lay off several hundred employees globally

Disney (DIS) removes several hundreds of employees in its global operations as part of an attempt to reduce costs, with consumers increasingly turning from traditional cable packages to broadcasting.

Discounts are part of a wider effort to simplify operations as the entertainment giant adapts to a quick -change scene. The affected areas include marketing for both movies and television, television propaganda, photography and development, and companies ’financial operations.

The company Yahoo Finance has followed a surgical approach to reduce the number of affected employees, adding that no difference is eliminated as part of the operation.

The stock did not change a little on the news.

The collective migration of paid television subscribers has caused large -scale business losses in almost all traditional companies in the media industry. In response, companies such as Disney have diverted their focus and resources towards broadcasting, and poured billions in building direct platforms for consumers where the fans abandoned paid TV.

In the latest release of profits, Disney reported a 13 % decrease on an annual basis in linear network revenues, while direct consumer revenue increased by 8 %, confirming the company’s accelerated axis to digital distribution.

Since 2023, Disney has canceled more than 8,000 roles as part of a wider effort to reduce $ 7.5 billion of annual costs.

Earlier this spring, Disney canceled slightly less than 200 role within the news and entertainment department, with the largest part of the discounts affecting ABC news. As part of those workers, the production teams were unified over “20/20” and “Nightline”, along with the three -hour teams of “good America” ​​programming. The FiveTyeight section also closed its political position and the press.

Disney’s last round of discounts comes after the company informed strong results in the second quarter of last month and announced plans to build a new recreational park and a resort in Abu Dhabi, which represents the first large expansion in the Middle East and the seventh global resort.

The shares have increased more than 20 % since the report, as investors praised the company’s financial performance and long -term growth strategy.

Ally channel He is a major correspondent in Yahoo financing. Follow it on x Allie_ANALand LinkedIn, And send it by email to Alexandra.ANAL@yahoofinance.com.

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