Tags: abc | news | layoffs | disney | bob | iger | cost

ABC News Lays Off 75

ABC News Lays Off 75
(Igor Golovniov/AP)

By    |   Wednesday, 02 October 2024 01:43 PM EDT

ABC News and its local stations laid off 75 people Wednesday, as parent company Disney continues to restructure amid cost concerns, the New York Post reports.

ABC News President Almin Karmehmedovic informed staffers of the cuts in a memo, saying the network was forced to make “tough decisions.”

“Across the various ranks of ABC News, a limited number of our colleagues are being impacted by staff reductions, Karmehmedovic wrote. “As you know, this has been happening across the broader company and the industry at large in recent weeks and months.”

The ABC News President went on to say his aim is “shaping a team that embraces [and can] evolve along with the new media landscape.”

A source familiar with the network said the layoffs were about evenly split between ABC News and local stations, and did not impact programming.

No entire teams were eliminated, the source added.

Disney CEO Bob Iger has been restructuring the entertainment giant in recent months, cutting more than 7,000 positions in the past year.

Last month, Disney trimming corporate positions, and Disney television studios that rely on scripted programming were folded into one division, while ABC Signature studio was combined with 20th TV.

In July, Disney eliminated 140 jobs in its television group, including jobs at NatGeo and Freeform.

ABC News declined to comment on the layoffs to the Post.

Lee Barney

Lee Barney, Newsmax’s financial editor, has been a financial journalist for 30 years, covering the economy, retirement planning, investing and financial technology.

© 2024 NewsmaxHealth. All rights reserved.


StreetTalk
ABC News and its local stations laid off 75 people Wednesday, as parent company Disney continues to restructure amid cost concerns, the New York Post reports.
abc, news, layoffs, disney, bob, iger, cost, cuts
227
2024-43-02
Wednesday, 02 October 2024 01:43 PM
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