The Walt Disney Company is laying off workers companywide as part of ongoing efforts to improve business profitability.
“As part of this ongoing improvement work, we have reviewed the cost structure of our functions across the company and determined that there are ways to run them more efficiently,” the company said in an emailed statement on Wednesday.
Deadline reported that about 300 jobs in legal, human resources, finance and communications were affected by the strike. Divisions such as ESPN and theme parks were not involved in the round.
Disney embarked on a cost-cutting drive last year that ultimately included 8,000 jobs. The company, like rivals Paramount Global and Warner Bros. Discovery, has been struggling with the decline of traditional TV viewing in favor of a new generation of streaming services.
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