Disney announces another round of layoffs, hundreds impacted in these divisions

The

Walt Disney company

has initiated another significant round of layoffs, with hundreds of employees reportedly losing their jobs across various departments. As reported by BBC, the professionals in the film, television and finance departments are impacted in this fresh round of layoffs. This latest move marks a continuation of the company's broader restructuring efforts aimed at streamlining operations and achieving cost efficiencies.

Disney layoffs: What the company said

"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

Disney

spokesperson told the BBC.The exact number of affected employees has not been officially disclosed by Disney, but reports indicate that the cuts are substantial, impacting a wide range of roles within the entertainment giant's content creation and distribution arms.This is said to be the fourth largest layoff of the company and it follows the prevision rounds implemented over the past year as Disney navigates a challenging media landscape characterised by evolving consumer habits and intense competition in the streaming sector.

The focus on TV and streaming divisions suggests a strategic recalibration as Disney continues to optimize its direct-to-consumer businesses, including Disney+, Hulu, and ESPN+. The company has been emphasizing profitability in its streaming segment, which has involved a re-evaluation of content strategies, production pipelines, and overall workforce allocation.

Previous Disney layoffs and cost-cutting measures

Earlier this year, Disney reduced its workforce by nearly 6%, affecting employees at ABC News and Disney Entertainment Networks. The company has been strategically trimming costs, following a broader industry trend of consolidation and efficiency measures.Despite the layoffs, Disney’s financial performance remains strong, with its

streaming services

and theme parks contributing to better-than-expected earnings.