Disney to Lay Off Nearly 6% of Staff Across ABC News, Disney Entertainment Networks, Report Says | Global News Avenue

Walt Disney Company (disAccording to ABC News Group and Disney Entertainment Networks, about 200 employees, or about 6% of the employees were laid off. Wall Street Journal.

according to Journalciting people familiar with the matter, will be announced to employees as early as Wednesday. The report said ABC News magazine showed that “20/20” and “Nightline” are being merged into one unit. Journal The report said the network is cutting back on the production team of political and data-driven news website 538 and Good Morning America. The report will lay off employees in the planning and schedule of the Disney Entertainment Networks division, which has cable channel FX.

Disney did not immediately respond to a request for comment. The company’s shares were roughly flat in previous market transactions on Wednesday. Journal Communication says status “First report that cuts are coming.”

Disney, like the rest of the entertainment industry, struggles to cope with the decline in audiences for rope tailoring and wired networks, while subscribers to its Disney+ streaming platform have also brought subscribers down in the quarter-quarter phase of the quarter, even the dominant platform Netflix (NFLX) Prosperous Increase prices. The company released quarterly results that exceeded estimated quarterly last month Despite Disney+ subscribers slipping from the last quarter. The company said it expects subscribers to streaming platforms to “moderately decline” in the second quarter.

Disney stock has fallen 4% over the past 12 months, while Netflix stock has nearly 60%.