Walt Disney is laying off several hundred employees across its film, television, and corporate finance divisions, according to CNBC. The layoffs impact global teams in film and TV marketing, publicity, casting, and development as the company restructures its business as cable audiences shift to streaming. The move follows 7,000 job cuts in 2023 aimed at saving $5.5 billion. Disney laid off nearly 6% in March, or fewer than 200 employees, from the ABC News Group and Disney Entertainment Networks. Its May earnings report beat Wall Street expectations, driven by a surprise boost from Disney+ and strong theme park performance. Shares were up 21% since the earnings report and closed down 0.1% on Monday.
