Disney lays off hundreds as streaming strategy evolves

Walt Disney is laying off several hundred employees across its television and film divisions, mostly from marketing, publicity, casting, and development teams.

The move follows the House of Mouse’s broader strategy shift as audiences continue to move away from cable TV towards streaming. 

This marks Disney’s fourth and largest round of layoffs in 10 months, part of a $7.5 billion cost-cutting goal set by CEO Bob Iger. In 2023, the company cut 7,000 jobs.

Despite the terminations, Disney’s May earnings beat Wall Street expectations, driven by Disney+ growth and strong theme park revenue.

In the second quarter of 2025, revenue increased 7% to $23.6 billion, and Disney+ added 126 million subscribers, marking a shift toward streaming.

Still, Disney shares dipped 0.3% Monday, closing at $112.62, though they’re up 21% since that earnings report.