Disney laid off staff as it rebalances product, tech resources

• Disney laid off workers for the second time this month, this time in product and technology.
• The layoffs, under Adam Smith, affected under 2% of the group.
• Disney is still hiring in product and technology despite the head count reductions.

Disney has laid off workers for the second time this month, this time in product and technology.

This one fell under Adam Smith, product and technology chief over Disney's entertainment and sports media businesses, and amounted to under 2% of the group, according to a person with direct knowledge.

The layoffs were geared toward rebalancing resources, and the company continues to hire in product and technology, the person said.

Smith, who joined last year from YouTube, is tasked with boosting technologies for Disney+ and Hulu and also developing the upcoming ESPN flagship streaming product that is set to come out this year.

Earlier this month, the entertainment giant let go of several hundred people, the latest in a series of head count reductions in recent years.

That cut mainly affected people in TV and film marketing and was related to the industrywide decline in linear TV viewership.

Disney has made several head count reductions in recent years as the TV audiences migrate to streaming platforms, where profits have been slow to follow.

CEO Bob Iger laid the groundwork for broad cuts when he returned in late 2022 for his second tour as chief executive, saying in 2023 that he would cut 7,000 jobs.

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