Anabelle Colaco
06 Jun 2025, 16:12 GMT+10
BURBANK, California: Walt Disney is laying off several hundred employees across its film, television, and corporate finance departments, a source familiar with the decision said on June 2.
These job cuts will impact teams worldwide, including those in film and TV marketing, publicity, casting, and development.
Like other media companies, Disney is changing its business model as more viewers move from traditional cable TV to streaming platforms. In 2023, Disney already cut 7,000 jobs to reduce costs by US$5.5 billion.
Earlier this year, in March, Disney also laid off fewer than 200 people, or about six percent of staff, from its ABC News Group and Disney Entertainment Networks divisions.
Despite the ongoing layoffs, Disney's latest earnings report in May showed better-than-expected results. The company saw a surprise boost from its Disney+ streaming service and strong performance from its theme parks.
Since that earnings report, Disney's stock has risen by 21 percent. However, on the afternoon of June 2, the stock was slightly down by 0.3 percent, trading at $112.62.
Get a daily dose of Colorado Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Colorado Star.
More InformationWASHINGTON, D.C.: Tensions reignite in the U.S.-China trade truce after President Donald Trump accused Beijing of violating a recent...
New Delhi [India] June 6 (ANI): The credit appraisal for small ticket loans up to 2.5 lakh Rupees where gold is given as collateral...
New Delhi [India], June 6 (ANI): The Automobile industry has supported the Reserve Bank of India's rate-cut decision, and they believe...
SMPL New Delhi [India], June 6: Sri Balaji University, Pune (SBUP), a premier institution renowned for its industry-aligned education...
New Delhi [India] June 6 (ANI): As global bond markets experience turbulence amid rising long-dated treasury yields in the United States...
Mumbai (Maharashtra) [India], June 6 (ANI): India's foreign exchange reserves (Forex) are sufficient to meet 11 months of the country's...
LONDON, UK: As of this month, it's officially illegal to buy disposable vapes anywhere in the United Kingdom. The new ban, aimed...
BURBANK, California: Walt Disney is laying off several hundred employees across its film, television, and corporate finance departments,...
FLIN FLON, Manitoba: More than 25,000 people in three Canadian provinces have been forced to leave their homes because of wildfires,...
NEWBURYPORT, Massachusetts: Aboard a burning fishing boat more than 100 miles offshore, Robbie Roberge knew precisely what to do. He...
MOUNTAIN VIEW, California: To settle a major shareholder lawsuit, Google is writing a US$500 million check — not for damages, but to...
CHICAGO, Illinois: A simple blood test could help breast cancer patients get the proper treatment earlier, potentially halving their...