Disney is making some big changes at ABC News, cutting around 200 jobs—nearly 6% of its workforce—as part of a wider restructuring effort. This decision comes as traditional television faces declining viewership, forcing media companies to rethink their strategies.
What’s Changing?
The job cuts will impact multiple divisions, including well-known ABC News programs and Disney’s entertainment networks. Key changes include:
- “20/20” and “Nightline” Merge: The two popular news programs will now operate under a single unit, streamlining production.
- FiveThirtyEight Shuts Down: The political analysis website, famous for its election forecasts, will close, affecting about 15 employees.
- “Good Morning America” Restructuring: All three hours of the show will now be managed under one leadership team.
- Disney Entertainment Networks Hit: The unit overseeing FX and other cable channels will also face staff reductions.
These changes reflect Disney’s push to consolidate resources and focus on areas with higher audience engagement.
Why Is Disney Doing This?
The traditional TV industry has been struggling as more viewers shift to streaming platforms. To stay competitive, Disney is reorganizing its operations and cutting costs. The company is also investing heavily in its streaming services, such as Disney+, which is becoming a core part of its business.
Financial Outlook
Despite the layoffs, Disney is seeing strong financial performance. The company’s earnings per share jumped 44% in the last quarter, reaching $1.76. Its entertainment unit, which includes movies, TV, and streaming, doubled its operating income to $1.7 billion. Much of this success is thanks to blockbuster hits like “Moana 2,” which performed well at the holiday box office.
Bigger Picture: A Trend Across Industries
Disney isn’t alone in making layoffs. Many big companies—including Google, Meta, Microsoft, and Tesla—have also been cutting jobs. Some of these layoffs are due to economic challenges, while others are linked to the rise of artificial intelligence, which is replacing certain roles in industries like tech and media.
What’s Next for Disney?
As Disney navigates these challenges, it’s clear that the company is focused on adapting to the changing media landscape. While these job cuts are tough, Disney is betting on a future where digital and streaming services take center stage. Whether these changes will pay off remains to be seen, but one thing is certain—Disney is determined to stay ahead in an evolving industry.
