Disney reportedly plans restructuring of television business
DIS•Disney reportedly plans to restructure its television business, a move that could lead to hundreds of layoffs and consolidate divisions. The plan may not be finalized before the end of the year.
1. Restructuring plans
Disney’s television restructuring is being led by Disney Entertainment Television Chairman Debra O’Connell and may not be finalized before the end of the year. The overhaul aims to organize the business around streaming customers rather than brands built for linear television.
2. Potential effects
The changes are expected to affect executives overseeing ABC Entertainment, 20th Television, Hulu Originals and Freeform. Disney has already cut jobs this year in marketing, Pixar, ABC News and ESPN, and laid off a few hundred employees on Tuesday, mainly in human resources and technology.
3. Industry context
Media companies have been cutting costs as cord-cutting shrinks cable and broadcast networks, while streaming has yet to make up for lost profits.
