Disney continues with its "readjustment": lays off hundreds in film, TV, and finance despite the rebound of its shares

Walt Disney Company began a new round of global layoffs that will affect hundreds of employees worldwide, including those in key areas such as film, television and financial operations, reports confirmed.

The cuts, which especially impact film and series marketing, television advertising, casting and development teams, come despite a rebound in the company's stock and the streaming platform's Disney+.

Disney's "reset" clearly follows the foundations of a profound transformation of the company's business model, which seeks to definitively end its historical dependence on cable TV and adapt to new audiences seeking to be entertained through subscription plans on streaming platforms.

In fact, Disney is not the only one facing this "historic" process. Other major entertainment and development companies such as Warner Bros. Discovery, Paramount Global, Amazon and even Apple are making layoffs in recent months and adjusting their business model in the field.

Likewise, global layoffs are not unprecedented for Disney. In 2023, the company cut a staggering 7,000 jobsas part of a cost-saving plan aimed at cutting $5.5 billion in costs.

Last March, the company did something similar, laying off about 6% of its staff at ABC News and entertainment networks such as FX and Disney Channel.

The cuts, moreover, come despite the fact that the company is going through a period of financial recovery.

In its most recent quarterly report, released in May, the company reported that it beat Wall Street's expectations thanks largely to the rebound in Disney+, which saw an increase in subscribers. The company also showed very good results in its theme parks.

This good momentum for Disney+ allowed the company's shares to rise 21% since that report, although they closed Monday down a slight 0.3% at $112.62.