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Disney Cuts Under 2% of Product and Technology Staff in Second June Layoffs

Disney describes the cuts as a rebalancing of resources to boost its streaming platforms ahead of its ESPN service launch this fall.

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Entertainment giant Disney is continuing its campaign of employee layoffs with its latest round of cuts hitting its product and technology division.

Overview

  • Earlier in June, Disney eliminated several hundred marketing roles before trimming under two percent of its product and technology workforce this week.
  • Adam Smith, who joined from YouTube last year as chief product and technology officer, led the cuts to reallocate resources across Disney+ and Hulu development teams.
  • Disney says it is still hiring in product and technology to support innovations aimed at improving user experience and expanding subscriber benefits.
  • The company is on track to introduce a new ESPN streaming service this fall featuring fantasy sports integrations, expanded statistics, betting tools and e-commerce options.
  • These staffing moves follow CEO Bob Iger’s 2022 initiative to cut 7,000 jobs and echo industry shifts prompted by declining linear TV viewership.