The Walt Disney Company is set to eliminate approximately 200 positions, accounting for about 6% of staff at ABC News Group and the Disney Entertainment Networks Unit, according to a report by The Wall Street Journal on Tuesday.
The job cuts are expected to be announced as early as Wednesday, a person familiar with the matter told WSJ.
As part of the downsizing, Disney is consolidating its news programming—merging the production of ABC’s flagship programs “20/20” and “Nightline” into a single unit.
Additionally, the company will shut down the political and data-focused news site 538, which employs about 15 staff members.
ABC News, which also houses the widely-watched morning show “Good Morning America”, will see further streamlining, with all three hours of the program now coming under a single production team—a shift from the previous structure, where the third hour was separately managed.
Beyond ABC News, the Disney Entertainment Networks unit will reduce staff in program planning and scheduling, per WSJ’s report.
The job cuts come amid a broader industry challenge, as traditional television networks continue to lose viewership to streaming services.
Despite the layoffs, Disney’s latest earnings report showcased a 44% surge in adjusted per-share earnings, reaching $1.76 for the October-December quarter.
The company’s Entertainment unit—spanning film, TV, and streaming—saw operating income soar to $1.7 billion, nearly doubling from the previous year, driven by the holiday success of “Moana 2”.