Disney announces 200 layoffs at ABC News and Entertainment Networks and the closure of 538
The cuts will focus particularly on the news side, and New York will be the site most affected by the departures. The cost-cutting plan also includes merging programs.
Exteriors of The Walt Disney Company headquarters
Disney announced that it will lay off about 200 employees from ABC News and Entertainment Networks over the next few years. The cutback plan also includes the closure of political analysis portal and polling aggregator 538, founded by the renowned Nate Silver.
The staff cuts will involve a reduction ofaround 6% of its workforce, at a time when the company's traditional business is struggling. The cost-cutting plan also includes the merger of three programs 20/20, Nightline and Impact x Nightline.
"New ways to effectively manage resources"
In statements to US Today, a company source who asked not to be identified assured that those affected had already received notification of the termination of their contracts. In addition, this same person noted that Bob Iger and his executives "are evaluating new ways to effectively manage resources and increase efficiency."
Most of the departures will occur at ABC News, and the New York headquarters of the channel will be the hardest hit by the layoffs, according to these sources.
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