Disney Cuts 200 Jobs Across ABC News And Disney Entertainment Networks: Report

The Walt Disney Company DIS is reportedly implementing a new wave of job cuts, eliminating around 200 positions within its ABC News Group and Disney Entertainment Networks divisions.

These reductions account for almost 6% of the total staff across both units, reported the Wall Street Journal.

ABC programs, such as popular titles like “20/20” and “Nightline,” are being combined into one unit, per the report.

Also, significant adjustment is reportedly being made to Good Morning America show. The report indicates that all three hours of the program will now be managed by a single leader, replacing the current setup with separate teams for each hour.

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Additionally, the data-driven news platform 538 will be shut down as part of the cost-cutting measures, the report highlighted.

Since the beginning of 2023, the company has already reduced its workforce by more than 8,000 jobs, according to a report from Bloomberg.

The report noted Disney has experienced a drop in both revenue and profit from its broadcast and cable TV sectors.

In its latest quarter, Content Sales/Licensing and Other operating income increased $536 million to $312 million, driven by Moana 2’s performance.

The company has also trimmed its content budget to $23 billion, down from its previous $24 billion allocation.

Disney reported fiscal first-quarter 2025 revenue growth of 5% to $24.70 billion, beating the analyst estimate of $24.62 billion. Adjusted EPS of $1.76 beat the consensus estimate of $1.45.

Disney ended the quarter with 178 million Disney+ Core and Hulu subscriptions and 125 million Disney+ Core paid subscribers.

Price Action: DIS shares are trading higher by 0.05% at $109.06 at last check Wednesday.

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