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**Headline: Disney Announces Major Layoffs as Cost-Cutting Measures Continue**

**Los Angeles, CA -** The Walt Disney Company is undergoing another round of significant layoffs today, impacting hundreds of employees globally, Deadline has exclusively learned. The cuts are primarily concentrated within Disney Entertainment divisions, affecting departments such as film and television marketing, television publicity, casting, and development. Disney’s corporate financial operations are also affected.

Sources indicate the impact is comparable across the film and television sides of Disney Entertainment. While no entire teams are being eliminated, the majority of affected Disney Entertainment Television staffers are based in Los Angeles. This marks the fourth and largest round of layoffs in the past 10 months within Disney’s television operations.

These layoffs are part of a broader cost-cutting initiative spearheaded by CEO Bob Iger since his return to the company. Iger established a goal of reducing costs by at least $7.5 billion and eliminating approximately 7,000 jobs throughout 2023 as traditional media companies grapple with shifting business models centered around streaming services amidst economic headwinds.

Previous cuts included nearly 200 employees from ABC News Group and Disney’s entertainment networks (Freeform and FX) in early March, a restructuring in October that saw the shutdown of ABC Signature, and a round of staff cuts impacting roughly 140 people within Disney Entertainment Television last July.

The latest layoffs come despite Disney’s better-than-expected Q2 earnings, driven by experiences, sports, and strong streaming performance. Direct-to-consumer operating profit increased by $289 million to $336 million. At the shareholder meeting earlier this year, Iger spoke about creating new jobs, largely in Disney experiences, including theme parks.

The move mirrors similar staff reductions at NBCUniversal, where the company is currently spinning off several cable networks into a new entity. Deadline will continue to update this story as more details emerge.

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