Disney is laying off several hundred employees globally as part of a cost-reduction strategy, focusing on areas such as marketing, TV publicity, and corporate financial operations. This move is part of a broader effort to adapt to the changing media landscape, where consumers are increasingly moving away from traditional cable packages towards streaming services. The company has already eliminated over 8,000 roles since 2023, aiming to cut $7.5 billion in annual costs.

The layoffs come despite Disney's recent strong financial performance, with a reported 13% year-over-year drop in linear network revenue, while direct-to-consumer revenue increased by 8%. This shift underscores Disney's pivot towards digital distribution and streaming, which is now a central focus for the company. The stock remained stable following the announcement, indicating that investors are cautiously optimistic about Disney's long-term growth strategy.