ISTANBUL - United States-based entertainment giant Walt Disney is laying off a further 200 employees across its ABC News and entertainment television networks, Anadolu Ajansi (AA) reported, citing an internal memo.
The majority of the job cuts will affect ABC News' New York-based division, Bloomberg reported on Wednesday.
According to the memo, production units such as ABC News Studios, 20/20, and Nightline will be merged, with affected employees set to be informed on Wednesday.
"ABC News Group and Disney Entertainment Networks continually evaluate new ways to effectively manage resources and boost efficiencies,” the memo stated.
Since 2023, Disney has cut more than 8,000 jobs as part of its efforts to reduce annual costs by US$7.5 billion.
Rising programming costs and declining viewership on entertainment-focused channels have contributed to falling revenue and profits in Disney’s broadcast and cable television divisions, according to its most recent earnings report. - BERNAMA