$DIS Cuts About 300 Jobs as Television Restructuring Puts Hundreds More at Risk

Disney has begun another round of layoffs, eliminating roughly 300 jobs, primarily in human resources and technology, as new CEO Josh D'Amaro continues to restructure the company, according to Deadline and TheStreet. The cuts are expected to take place over several days.
Separately, the Wall Street Journal reported that Disney is planning a significant overhaul of its television operations that could lead to hundreds of additional layoffs and the consolidation of divisions. Disney Entertainment Television Chairman Debra O'Connell is leading the plan, which is meant to organize the business more around streaming customers than individual brands. Executives overseeing ABC Entertainment, 20th Television, Hulu Originals, and Freeform are among those expected to be affected. Details are still being worked out and may not be finalized until the end of the year.
Disney has now eliminated more than 1,500 jobs across three rounds of layoffs since D'Amaro became CEO in March:
- About 1,000 jobs in April
- Several hundred more in July
- Roughly 300 in the latest round
On Disney's August earnings call, CFO Hugh Johnston said the company was looking at "meaningful reductions to cost, including labor and SG&A." D'Amaro said Disney wants to operate more as "One Disney" and is moving Disney+ toward becoming the "digital centerpiece" of its customer relationship, with deeper Hulu integration.
Pew Research Center data shows about 83% of U.S. adults now watch streaming services, compared with 36% who subscribe to cable or satellite TV at home.