Disney Restructures Product and Tech Teams, Lays Off 2% of Staff to Focus on Streaming Platforms and ESPN Streaming Product

Disney has recently laid off workers for the second time this month, this time in the product and technology department. The layoffs, which were carried out under the leadership of Adam Smith, affected less than 2% of the company's total workforce. Despite these reductions, Disney is still actively hiring in the product and technology sector. Smith, who joined Disney last year from YouTube, is tasked with boosting technologies for Disney+ and Hulu, as well as developing the upcoming ESPN flagship streaming product that is set to launch this year. Earlier this month, the entertainment giant let go of several hundred people, the latest in a series of head count reductions in recent years. The previous round of cuts mainly affected employees in TV and film marketing and was related to the industry-wide decline in linear TV viewership. Disney has made several head count reductions in recent years as TV audiences have migrated to streaming platforms, where profits have been slow to follow. CEO Bob Iger laid the groundwork for broad cuts when he returned in late 2022 for his second tour as chief executive, saying in 2023 that he would cut 7,000 jobs. If you have a tip, please contact this reporter via email at [email protected] or Signal, Telegram, or WhatsApp at 917-209-8549. Use a personal email address and a non-work device; here's our guide to sharing information securely.