Declining TV Ratings and Revenue Lead to 4th Round of Layoffs for Disney in a Year

(UPI) — Hundreds of Walt Disney Co., employees, in television, film and corporate financial operations, were notified Monday that their jobs are being cut amid declining TV ratings and revenue. It is the fourth round of layoffs for Disney in a year.

While Disney did not confirm the exact number of workers affected, it is the most recent round of layoffs since Disney cut 200 jobs across ABC and its television networks in March. Disney has eliminated more than 7,000 jobs since 2023, when chief executive officer Bob Iger revealed his goal to trim $7.5 billion in costs.

“As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fueling the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a company spokesperson told CBS News on Monday. “As part of this ongoing work, we have identified opportunities to operate more efficiently and are eliminating a limited number of positions today.”

Disney owns ABC Entertainment, ABC News, ESPN, Marvel, Disney+ and Hulu. After Monday’s layoffs were announced, Disney shares dropped 0.08% to close down 9 cents at $112.95.

Disney reported better-than-expected earnings last month for the second quarter, with $23.6 billion in revenue for the three months that ended in March. That is a 7% increase compared to the same quarter in 2024 and was fueled by Disney experiences, including theme parks, and sports.

The company also reported an increase of 126 million Disney+ subscribers in the first quarter of 2025, as viewership continues to shift from traditional TV to streaming.