ABC Lets Go 75 News, Local TV Staffers as Disney Cuts Continue

(Bloomberg) -- Walt Disney Co.’s ABC News and local TV station group let go about 75 employees Wednesday in the latest round of cuts at the company.

Most Read from Bloomberg

• The Corner Store Comeback

• A Housing Crisis Brews in Rwanda’s Capital City

• Gang Violence Is Moving to the Amazon’s Fast-Growing Cities

• A 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High Rents

• Roofs of Mexico City’s Massive Food Market Will Power Public Buses

The reductions were split evenly between the two units and won’t impact local or national programming, Disney said in a statement.

Like other traditional media companies, Disney is coping with a shift in viewers and advertisers from broadcast and cable networks to streaming services. The company has eliminated about 8,000 positions since 2022. The reductions have continued this year. In recent weeks the company has laid off employees at the corporate level and shuttered one of its TV production studios.

ABC News hosted the presidential debate between Democratic nominee Kamala Harris and Republican Donald Trump in September, which garnered 67.1 million total viewers.

Most Read from Bloomberg Businessweek

• Adam Neumann’s Latest Project Is a WeWork Competitor

• How Bogg Bags, the Crocs of Totes, Won Over America’s Moms

• Elon Musk’s Role in Reanimating the Far-Right Term ‘Remigration’

• The Great €3 Billion Shipping Container Heist

• How a Short Seller’s Attack Threatens This Spanish Family Company

©2024 Bloomberg L.P.