Disney laid off staff as it rebalances product, tech resources

Group 1 - Disney has conducted a second round of layoffs this month, specifically in the product and technology sectors, affecting under 2% of the group [1] - The layoffs are part of a strategy to rebalance resources while the company continues to hire in product and technology [1] - Earlier this month, Disney also let go of several hundred employees, primarily in TV and film marketing, due to a decline in linear TV viewership [2] Group 2 - The company has been reducing headcount in recent years as audiences shift from traditional TV to streaming platforms, where profitability has been slow to materialize [3] - CEO Bob Iger initiated plans for significant job cuts upon his return in late 2022, announcing a total reduction of 7,000 jobs for 2023 [3]