Disney, who have been well known throughout the years for their amazing animated films, has hit a snag and initiated layoffs. According to Deadline, this latest reduction strategy was formed by Bob Iger, who has returned as the CEO of Disney. Iger’s mission is to try to keep the number of eliminations to a bare minimum, showcasing Disney’s efforts in maintaining streamlining services within a rapidly evolving entertainment landscape and their commitment to its $7.5 billion cost-saving goal, initially set in early 2023.

This has been reported as the fourth and largest layoff the company has experienced within the last 10 months. According to Deadline, the job cuts are global and affect various teams, ranging from marketing to television and film, and also include casting and development. It was reported that most of the cuts seem to be around the Los Angeles area. The driving force behind these strategic shifts is the dramatic migration of traditional cable TV audiences to streaming platforms, forcing media giants like Disney to re-evaluate their business models.

This isn’t Disney’s first encounter with workforce reductions in recent times, last year company with a total of 7,00 jobs being eliminated. According to Deadline, last March saw around 200 Disney employees being laid-off, which was about 6% in the workforce. Another case appeared last July, with another round of cuts consisting of 140 workers. Time will only tell when these decision will take place and the layoff will be stopped.

According to Deadline, the latest earnings report for the company’s second quarter from last month shows a strong performance, with profits rising from $289 million to $336 million. At the annual shareholder meeting being held this spring, CEO Bob Iger will present new opportunities aimed at boosting Disney’s growth, including the creation of new jobs and the development of a new theme park. Despite recent setbacks, Disney remains focused on enhancing its performance and strengthening its direct-to-consumer business.