According to the Wall Street Journal, budget cuts are expected to lead to staff reductions at Disney/ABC Television Group. These cuts will span ABC network, its production studio, and local stations as well as cable channels like Disney Channel and Freeform. In all, it’s expected that up to 300 jobs could be eliminated. WSJ says these cuts are being orchestrated by Disney/ABC Television Group president Ben Sherwood, who reportedly promised Disney CEO Bob Iger he’d trim $300 million in costs.
In recent months, Disney’s TV properties have seen their fair share of struggles. Viewership at Disney Channel and Freeform is down some 20% according to WSJ while ABC finds itself placing third among the four major broadcast networks in terms of viewership. Meanwhile, ESPN, which is separate from the Disney/ABC Television, experienced their own layoffs earlier this year. It’s also worth noting that Disney recently announced plans to launch its own over-the-top streaming service, effectively changing its television business model.