In Hollywood, many cost -saving measures have been implemented for years, with production and employment in a downward spiral. For example, studios release fewer films to increase profitability, also because the cinema visits are still below the level of before the Coronapandemie. At the same time, there is a shift to streaming services that put pressure on advertising income for traditional channels.
Restructuring Disney: 7000 jobs deleted
Disney and other companies from the industry adjust their business strategies because of these changes. Disney had already announced a restructuring in 2023 in which 7,000 jobs were deleted. This had to reduce expenses by $ 5.5 billion. Competitors in the industry have also fired thousands of employees. In March, Disney removed around 200 jobs at ABC and TV channels for entertainment.
Disney has a total of more than 230,000 employees, according to figures from September.