Disney is planning to reduce headcount by roughly 6% of ABC News Group and Disney Entertainment Networks’ total workforce, a person familiar with the matter said on Tuesday. The entertainment giant is grappling with a declining TV audience.
The layoffs, which would affect less than 200 staff across both units, are expected to be announced as early as Wednesday, the person said, requesting anonymity as the matter is confidential. The majority of the impact will be on ABC News.
The source said some ABC shows, including "20/20” and "Nightline,” are consolidating into one unit.
The person said Disney also integrates its digital editorial and social teams with news gathering, shows, and owned stations.
ABC News is home to the popular news talk show "Good Morning America.” The Wall Street Journal reported the news earlier in the day and said that all three hours of the branded show will be consolidated under one leader. The show’s third hour currently has a separate production team.
Media giants are reshaping their business strategies in response to the continued migration of cable TV audiences to streaming platforms.
ABC News did not immediately respond to a Reuters request for comment.
Disney reported a 44% jump in adjusted per-share earnings of $1.76 for the October-December quarter.
