Walt Disney Co. is implementing layoffs at the corporate level in a continuing effort to enhance the profitability of the business.
In an emailed statement on Wednesday, the company indicated that the optimization work has included a review of cost structures within corporate-level functions, identifying opportunities for more efficient operations.
According to a report by Deadline, approximately 300 positions in legal, human resources, finance, and communications have been affected. This round of layoffs did not impact divisions such as ESPN and theme parks.
Last year, Disney initiated a cost-cutting plan that eventually led to the elimination of 8,000 positions. Similar to competitors Paramount Global and Warner Bros. Discovery Inc., Disney has been facing challenges due to a decline in traditional TV viewing, with audiences increasingly favoring streaming services.
