According to reports, ABC News, a subsidiary of Walt Disney, has carried out layoffs of several senior executives as part of its ongoing cost-cutting and streamlining efforts. The move is part of Disney’s previously announced plan to eliminate 7,000 positions across the company. The layoffs have already started and are expected to impact various departments within Disney, including television production, Marvel Entertainment, and next-generation storytelling initiatives.
In a memo to staff, ABC News President Kim Godwin has announced a downsizing and restructuring plan, according to Reuters. The plan will see around 50 jobs eliminated over time, including open positions. Godwin acknowledged that while the decision was difficult, it was necessary to ensure the company’s growth in the future. As part of the restructuring, senior executives such as Wendy Fisher, senior vice president of news gathering; Galen Gordon, senior vice president of talent; Alison Rudnick, vice president of corporate communications; and David Herndon, executive director, and Los Angeles bureau chief, have departed from the company.
Disney announced this week that it would be implementing three rounds of layoffs in order to reduce corporate spending and increase free cash flow. The first round of cuts is expected to result in around 7,000 job losses, impacting various divisions including media and distribution, parks and resorts, and ESPN. The company believes that these job cuts will help to reduce costs by $5.5 billion, with $3 billion of this coming from reduced spending on content.
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