Report: Layoffs at Disney's TV UnitWednesday, August 21, 2013
Walt Disney Co. in Burbank is laying off up to 175 employees at its Disney/ABC Television Group, according to media reports on Wednesday.
The job cuts are expected to come primarily at ABC-owned television stations. The network owns and operates stations in major markets, including Los Angeles, Chicago, Philadelphia and New York.
The television group made changes in certain areas to gain efficiencies and better position it for future growth, according to a Disney statement issued in response to the reports.
“As technological advances continue to alter the competitive landscape and viewer habits, it’s incumbent upon us to stay ahead of the curve,” said the statement, which did confirm the job cuts.
The cuts in the television group follow layoffs of 400 employees at sports cable network ESPN announced in May, the loss of about 100 jobs when Disney closed its LucasArts video game studio in April, and unspecified additional cuts in the film studio and consumer products divisions also in April.
Shares lost 76 cents, or more than 1 percent, to close at $61.14 on the New York Stock Exchange.