Disney slashing hundreds of jobs in film, TV as Hollywood facing industry turmoil: report

Group 1 - Disney is laying off several hundred employees across various teams, including film and TV marketing, TV publicity, and casting and development [1][3] - The layoffs are part of a broader strategy by Disney and other companies to adapt to the shift of cable TV audiences to streaming platforms [1] - In 2023, Disney previously cut 7,000 jobs to save $5.5 billion in costs [3] Group 2 - Disney reported earnings in May that exceeded expectations, driven by an unexpected boost from the Disney+ streaming service and strong performance from theme parks [3] - Following the earnings report, Disney shares have increased by 21%, although they were down 0.5% to $112.43 on Monday [3]