Disney is laying off several hundred people as the company grapples with a declining TV business

Core Insights - Disney is laying off several hundred employees globally, primarily affecting the marketing teams in the Disney Entertainment division due to a declining traditional TV audience [1] - The layoffs also include a smaller number of positions in publicity, casting, development, and corporate finance, with no entire teams being eliminated [1] - The company has previously reduced headcount as TV audiences shift to streaming platforms, with significant cuts occurring in recent years [2] Employment Reductions - In March, Disney cut nearly 6% of its workforce, approximately 200 people, in its ABC News Group and Disney Entertainment Networks [2] - Last fall, around 300 employees were laid off in corporate departments, following a previous layoff of about 140 people, including those at National Geographic and Freeform [2] Strategic Direction - Bob Iger, upon returning as CEO in late 2022, indicated plans for broad cuts, aiming to reduce 7,000 jobs in 2023 [3] - Disney has achieved profitability in its streaming business for the first time last year and is seeking growth in its parks and experiences segment, including a new theme park partnership in Abu Dhabi [3]