Disney Plans Hundreds of Layoffs in Television Restructuring
The media giant is consolidating its TV divisions as part of ongoing reorganization efforts under CEO Josh D'Amaro.
Disney is preparing to restructure its television operations, a move expected to result in hundreds of job cuts, according to a report. The company's top executives are finalizing plans that will involve consolidating the various television divisions and reducing staff.
This restructuring marks the latest step in a broader reorganization initiative led by CEO Josh D'Amaro, who assumed the chief executive role in March. Prior to this, D'Amaro oversaw Disney's parks division.
Layoffs have already impacted several areas within the company, including marketing, Pixar, ABC News, and ESPN. Earlier in the week, Disney eliminated over 300 positions, primarily affecting its human resources and information technology departments. Reductions are also underway within Disney's legal and global affairs unit, which comprises approximately 1,000 employees.
Horacio Gutierrez, Disney's chief legal and global affairs officer, informed staff that the unit will become significantly smaller, attributing the change to advancements in automation.
The primary objective behind the reorganization of the television unit is to align its business structure with the demands of streaming customers, moving away from a model based on traditional broadcast brands. Disney President and Chief Creative Officer Dana Walden stated that the company is bringing together divisions that previously operated independently into a centralized television business, rather than maintaining separate silos.
Speaking at a conference in Los Angeles, Walden emphasized the need for continuous evaluation of the company's structure and organizational size. Debra OConnell, Chairman of Disney Entertainment, is leading this strategic shift. Her responsibilities encompass a range of properties, including ABC Entertainment, 20th Television, Hulu Originals, Disney Kids & Family, National Geographic Content, and Freeform.
The impending reorganization is anticipated to affect some of the executives managing these units. ABC News, also under OConnell's purview, is reportedly slated for layoffs. This comes as ABC News' "Good Morning America" has lost its top-rated position to NBC's "Today" after a 14-year run, and a shakeup at the program is expected.
Disney and ABC News have not yet responded to requests for comment.