The Walt Disney Co. is undertaking layoffs at the corporate level as part of ongoing efforts to enhance the company’s profitability.
In an emailed statement on Wednesday, the company indicated, “As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently.”
According to a report from Deadline, approximately 300 positions in legal, human resources, finance, and communications have been affected. Divisions such as ESPN and theme parks were not impacted in this phase of layoffs.
Last year, Disney initiated a cost-cutting strategy that resulted in the elimination of 8,000 positions. The company, much like its competitors Paramount Global and Warner Bros. Discovery Inc., has been contending with a shift from traditional TV viewing to modern streaming services.