Disney’s latest layoffs hit like a woke script rewrite nobody asked for. Hundreds of employees worldwide got pink slips starting Monday, with the axe falling hardest on Disney Entertainment’s film and TV marketing, publicity, casting, and development teams, as Deadline reports. Corporate finance wasn’t spared either, proving no corner of the Magic Kingdom is safe from the cost-cutting guillotine.
This fourth round of layoffs in 10 months is Disney’s biggest yet, slashing jobs across the Los Angeles-based Entertainment Television staff and beyond. It’s part of CEO Bob Iger’s $7.5 billion cost-cutting crusade, which already obliterated 7,000 jobs in 2023. No entire teams are gone, but the selective cuts sting just as much.
Disney is chasing streaming profits while traditional media bleeds, a trend mirrored by NBCUniversal’s recent cable network spinoff. Better-than-expected Q2 earnings last month, fueled by theme parks, sports, and streaming, didn’t save these jobs. Direct-to-consumer profits jumped $289 million, but apparently, that’s not enough to keep the payroll intact.
Last July, Disney trimmed 140 jobs, roughly 2% of its workforce, including 60 at National Geographic. Those cuts were sold as “streamlining,” but they’re starting to look like a fire sale. The progressive push for streaming supremacy comes at a human cost.
By October, Disney shut down ABC Signature, folding it into 20th Television, and merged ABC and Hulu’s scripted drama and comedy teams. That restructuring cost about 30 jobs, a small but sharp jab in the name of efficiency. Consolidation sounds nice until you’re the one packing boxes.
Early March brought another 200 layoffs, gutting 6% of ABC News Group and Disney’s entertainment networks like Freeform and FX. The pattern is clear: Disney’s slicing away at its legacy media to prop up its streaming dreams. It’s a gamble that’s leaving loyal workers in the dust.
Bob Iger’s been preaching cost cuts since 2023, and he’s not slowing down. His $7.5 billion savings goal is a corporate altar where jobs are sacrificed for Wall Street’s approval. Meanwhile, he’s crowing about new theme park jobs at shareholder meetings, as if that softens the blow for laid-off TV staff.
Disney’s not alone in this mess -- NBCUniversal is spinning off cable networks into a new entity called Versant, shedding staff along the way. Traditional media is on life support, and executives are pulling the plug to chase streaming unicorns. It’s a brutal pivot that prioritizes pixels over people.
The Los Angeles epicenter of Disney Entertainment Television took the brunt of this round. Marketing, publicity, casting, and development roles -- core to storytelling -- are now collateral damage in Iger’s quest for leaner books. Creativity’s getting sidelined for spreadsheets, and that’s a plot twist nobody loves.
Disney’s Q2 earnings glowed, with experiences, sports, and streaming driving the bus. Direct-to-consumer operating profit hit $336 million, a $289 million leap, yet layoffs keep coming. Funny how “better-than-expected” results still mean pink slips for hundreds.
Iger’s vision leans hard into Disney’s theme parks, where new jobs are supposedly sprouting. But swapping TV and film roles for rollercoaster operators feels like a bait-and-switch. The Magic Kingdom is losing its storytellers to fund more popcorn stands.
No entire teams were wiped out, Disney claims, as if that’s a consolation prize. Selective cuts across film, TV, and finance still shatter lives and disrupt families. Precision doesn’t make the pain less real.
The broader media landscape’s no rosier, with NBCUniversal’s Versant spinoff signaling more industry upheaval. Disney’s layoffs reflect a desperate shift from cable and broadcast to streaming’s uncertain promise. It’s a race to relevance that’s trampling workers in the process.
These cuts aren’t just numbers -- they’re people who built Disney’s legacy, now discarded for a shiny new app. The anti-woke crowd sees this as karma for Disney’s progressive posturing, but it’s hard to cheer when real folks are hurting. Still, the company’s pivot feels like a betrayal of its roots.
Disney’s cost-cutting saga is far from over, and Iger’s $7.5 billion target looms large. As streaming wars rage, expect more casualties in the name of “efficiency.” The Magic Kingdom is looking less magical for those left jobless in its shadow.
