As a seasoned film enthusiast who has witnessed the ebb and flow of the industry for decades, I find myself once again saddened by the news of job losses at Disney. Having grown up with the magic of Walt Disney, I can’t help but feel a pang of nostalgia when I see the iconic company undergoing such changes.
Disney Television’s department is reducing its staff by approximately 2%, which translates to around 140 employees, as the media titan based in Burbank persists with its enterprise-wide cost reduction strategy.
As a film enthusiast, I’ve learned that changes are brewing within the realm of Disney Entertainment Television. From what I’ve gathered from my sources – albeit unofficially – it seems these adjustments will significantly impact National Geographic, Freeform, and locally owned TV stations. Additionally, the marketing and publicity teams may also find themselves in a new landscape. Stay tuned for more updates!
National Geographic, specifically, will experience a reduction of 13%. It’s important to note that no teams are being disbanded, according to the source. This well-known brand was incorporated into Disney following the $71.3 billion acquisition of 21st Century Fox entertainment assets in 2019.
Disney is making reductions, as they strive to reduce expenses and halt financial losses in their streaming sector. In the past year, CEO Bob Iger announced that the company would let go of approximately 7,000 employees as part of a $5.5 billion cost-reduction strategy.
Those targets eventually swelled to $7.5 billion in savings and 8,000 eliminated roles.
In May, Pixar, a computer animation studio owned by Disney, decided to let go of approximately 14% of its workforce, affecting around 175 employees. This decision was made in an attempt to reduce the number of streaming series they produce.
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2024-07-31 22:31