More layoffs have been confirmed for The Walt Disney Company.
Related: Florida’s Second Largest Airport To Increase Disney World Vacations by 50%
Variety reports that around 75 employees working in ABC News and local stations will be let go as a wave of layoffs sweeps Disney.
“It’s no secret that our industry is undergoing a transformation unlike any other, and we’re seeing headlines every day about streamlining across every major media company,” said Chad Matthews, president of ABC’s station group. “While we’re not immune to the pressures facing this business today, we have been — and will continue to be — strategic with decisions about our organization’s future. ”
Employees were notified Wednesday of the reductions, with the number of jobs split evenly between those working at the national and local media levels. This is the latest in a wave of layoffs that started to take effect on The Walt Disney Company back in September, with Deadline reporting nearly 300 employees would be impacted.
In a statement to Deadline, a Disney spokesperson said the layoffs occurred as the company sought ways to “more effectively manage our resources.”
“We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney. As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently.”
Related: Rachel Zegler Says She Wants To Take over Another Disney Franchise After ‘Snow White’
“Across the various ranks of ABC News, a limited number of our colleagues are being impacted by staff reductions. As you know, this has been happening across the broader company and the industry at large in recent weeks and months,” said Almin Karamehmedovic, who serves as president of ABC News.
“For us, it means shaping a team that embraces the new media landscape and evolves along with it, which we must do to continue serving our viewers.”
Disney posts incredible numbers at its theme parks, with guest spending rising along with revenue. However, Disney+ and the company’s other entertainment offerings have failed to be as consistent.
Disney has struggled to fully transition into the streaming world, with the company’s own in-house streaming platform, Disney+, still operating at a loss nearly five years after it launched. Disney+ is something Disney CEO Bob Iger has been especially focused on, discussing the profitability of Disney’s streaming portfolio during the company’s various earnings calls over the last year.
Stay tuned here for the latest news on The Walt Disney Company.