Disney announced further layoffs, impacting hundreds of employees across film, television, and finance departments. This follows 7,000 job cuts in 2023 as CEO Bob Iger seeks $5.5 billion in cost savings. The company cites industry transformation and a shift away from cable TV towards streaming as reasons. Despite stronger-than-expected recent earnings, fueled by Disney+ subscriptions and successful film releases like Lilo & Stitch, the company continues cost-cutting measures.

Prepared by Christopher Adams and reviewed by editorial team.