CHICAGO — Media giant Disney has announced it is laying off hundreds of employees across its film and television operations, part of a broader cost-cutting effort as the company accelerates its push into streaming services.
Key Departments Hit In Layoffs
The affected areas include:
- Marketing for TV and film
- TV publicity and casting
- Development and corporate financial operations
According to a Disney spokesperson, the job cuts are part of efforts to run the company more efficiently “while fueling state-of-the-art creativity and innovation.”
Although no exact number was shared, sources confirm the layoffs impact several hundred employees.
“Entire teams aren’t getting cut,” the spokesperson emphasized. “We’re being surgical in our approach.”
Part Of Larger Downsizing Trend
The layoffs follow a previous round in March, when just under 200 employees were let go from the ABC News Group and Disney Entertainment Networks. That represented about 6 percent of the total workforce for those divisions.
Many of the March cuts reportedly impacted staffers at ABC News, showing that restructuring is ongoing across multiple business units.
Streaming Strategy Behind The Cuts
Disney is moving full steam ahead with its Direct-to-Consumer (DTC) strategy, investing heavily in platforms like:
- Disney+
- Hulu
- ESPN+
The company is preparing to launch a new standalone ESPN streaming platform, with pricing projected around $29.99 per month, though no official release date has been announced yet.
This push comes amid intense competition in the streaming space, as Netflix, Amazon Prime, Warner Bros. Discovery (Max), and others battle for subscribers.
“The pandemic accelerated online video consumption,” said an industry analyst. “Now companies are cutting costs to sustain growth.”
To stay profitable, platforms have:
- Raised subscription prices
- Added ad-supported tiers
- Cracked down on password sharing
- Focused on original content and exclusive streaming rights
What This Means For Chicago
While the layoffs were not Chicago-specific, Disney’s moves reflect national and industry-wide trends that could trickle down to media professionals in major cities like Chicago. Production jobs, marketing teams, and local news partnerships are all potentially impacted by corporate restructuring at this scale.
Have you or someone you know in Chicago been affected by the media industry’s pivot to streaming? Share your story with us at ChicagoSuburbanFamily.com.
