Disney Lays Off 140 TV Division Employees

Cost-Cutting Measure in Shrinking Market

Disney's TV unit is undergoing significant changes

Walt Disney Co. (DIS) is laying off approximately 140 employees in its TV division, affecting NatGeo and Freeform network. This move is part of a cost-cutting effort as the company faces a shrinking market.

Disney's layoffs come amid a broader restructuring of its entertainment division. The company is shifting its focus towards streaming services and reducing its reliance on traditional cable and broadcast networks.

The current economic downturn and the rise of ad-supported streaming services have put pressure on Disney's traditional television business. The company reported a decline in advertising revenue for its cable networks in the last quarter.

Disney's decision to lay off employees in its TV division is a sign of the changing landscape in the media industry. As consumers increasingly embrace streaming services, legacy media companies like Disney are forced to adapt or risk losing market share.