Disney is planning to reduce headcount by roughly 6% of the total workforce of ABC News Group and Disney Entertainment Networks, a person familiar with the matter said on Tuesday, as the entertainment giant grapples with declining TV audience.
The layoffs, which would affect less than 200 staff across both the units, are expected to be announced as early as Wednesday with a majority of the impact on ABC News, the person said, requesting anonymity as the matter is confidential.
Some ABC shows including “20/20” and “Nightline” are consolidating into one unit, the source said.
Disney is also integrating its digital editorial and social teams with news gathering, shows and owned stations, the person said.
ABC News is home to the popular news talk show “Good Morning America”. The Wall Street Journal, which reported the news earlier in the day, said that all three hours of the branded show will be consolidated under one leader. The show’s third hour currently has a separate production team.
Media giants are reshaping their business strategies in response to the continued migration of cable TV audiences to streaming platforms.
ABC News did not immediately respond to a Reuters request for comment.
Disney reported a 44% jump in adjusted per-share earnings of $1.76 for the October-December quarter.
(Reporting by Janaki Venugopalan and Mrinmay Dey in Bengaluru; Editing by Mrigank Dhaniwala)
