US stock futures flat after Wall St drops on Trump tariffs, soft jobs data
Investing.com -- Disney (NYSE:DIS) has plans to reduce its workforce by approximately 6% at ABC News Group and Disney Entertainment Networks, according to Reuters.
This reduction would impact less than 200 staff members across the two units. The announcement is expected to be made as soon as Wednesday, with ABC News expected to bear the brunt of the layoffs.
The company is also planning to consolidate some ABC shows, including "20/20" and "Nightline", into a single unit. Furthermore, Disney is looking to integrate its digital editorial and social teams with news gathering, shows, and owned stations.
According to a report, all three hours of the branded show will be consolidated under one leader, replacing the current setup where the show’s third hour has a separate production team.
These changes come as media giants are adjusting their business strategies in response to the ongoing shift of cable TV audiences to streaming platforms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.