Walt Disney The Company is laying off employees at the corporate level as part of its ongoing efforts to improve corporate profitability.
“As part of this ongoing optimization work, we have reviewed the cost structure of our enterprise-wide functions and concluded that there are opportunities to make them more efficient,” the company said in an emailed statement on Wednesday.
The website Deadline reported that around 300 jobs in legal, human resources, finance and communications were affected. Departments such as ESPN and theme parks were not affected by this round.
Disney began cutting costs last year, ultimately affecting 8,000 jobs. The company, like its competitors Outstanding Global and Warner Bros. discovery Inc. is battling a decline in traditional television viewing in favor of a new generation of streaming services.