Walt Disney Co. (DIS) is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo.
The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/20 and Nightline will be consolidated and the impacted employees will be notified on Wednesday, according to the memo.
“ABC News Group and Disney Entertainment Networks continually evaluates new ways to effectively manage resources and boost efficiencies,” the memo read. The Status newsletter and the Wall Street Journal earlier reported the news.
The data-driven news website 538 will also be shut down. Nate Silver, who founded the site, said in a post on X that 538 produced “a lot of extremely valuable data and insight for everyone who wants to understand politics.”
Since 2023, Disney has eliminated more than 8,000 roles as part of an effort to cut $7.5 billion of annual costs. In its most recent earnings statement, Disney’s broadcast and cable TV businesses suffered a drop in revenue and profit, the result of higher programming costs and fewer subscribers on channels devoted to entertainment.
