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Layoffs Hit Disney’s ABC TV Unit

Its cable sports network and movie unit have also shed workers


Disney high put/call ratioSources tell Reuters that Disney’s ABC broadcast network plans trim its payroll after a companywide operational review following several recent acquisitions.

Roughly 175 jobs will be cut in the move. Positions being eliminated are no longer considered necessary due to changing technology or overlap with other jobs. About 2% of the television unit’s workforce will be affected by the layoffs.

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In a statement, ABC said it was restructuring operations to “stay ahead of the curve” in terms of advancing technology.

ABC employs about 7,600 workers. The company will do the most payroll paring among technical personnel, including broadcast engineers.

The ABC layoffs follow a round of job-cutting at Disney’s movie studios earlier this year.

In May, its ESPN cable sports network also announced plans to shed up to 400 employees.

Shares of Disney climbed modestly in Thursday morning trading.

Article printed from InvestorPlace Media,

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