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]

Topline UPS announced Tuesday it would lay off 20,000 workers this year, despite beating first-quarter profit estimates, as the shipping giant expects a decline in deliveries after cutting its shipments for Amazon in half earlier this year. The shipping giant halved its deliveries for Amazon earlier this year. Getty Images Key Facts UPS expects to save $3.5 billion in 2025 after cutting 20,000 jobs and closing 73 leased and owned buildings by the end of June, the company announced in its first-quarter earni ...