Disney (DIS) Targets Cost Savings with 6% Workforce Reduction

Entertainment giant Disney (DIS) is laying off about 6% of its workforce, amounting to nearly 200 positions, across the ABC News Group and Disney Entertainment Networks units. The layoffs are part of the company’s ongoing efforts to streamline operations and reduce costs.

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Apart from the job cuts, the company is also merging ABC News’ popular shows like “20/20” and “Nightline” into a single unit to improve efficiency. Also, the political and data-driven news site “FiveThirtyEight,” which employs around 15 people, is being shut down. Further, all three hours of its morning television show “Good Morning America” will now be produced by a single team, rather than separate teams handling each hour.