Disney Plans 200 Job Cuts at ABC News, Entertainment Units

Disney is set to lay off approximately 200 employees, or 6% of its workforce, at ABC News Group and Disney Entertainment Networks due to declining viewership and a shift towards streaming services. The layoffs will impact various programs, with the investigative show '20/20' and late-night program 'Nightline' being consolidated into a single unit, while the data-driven site FiveThirtyEight will be shut down. ABC News president Almin Karamehmedovic stated that these cuts are intended to streamline operations and adapt to changes in the television landscape. Despite the job reductions, Disney reported a 44% increase in adjusted earnings per share, driven by strong performance in its film and streaming sectors. This restructuring reflects a broader industry trend of media companies reducing costs in response to audience migration from traditional cable to digital platforms. The announcements come amidst ongoing speculation about the future direction of ABC News and its talent.