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Disney Layoffs Will Affect 75 Staffers at ABC News, Local Stations
Approximately 75 staffers at Disney's combined ABC News and local-station businesses will be laid off, part of a series of cuts across the company
Employees were notified Wednesday of the staff reductions, according to a person familiar with the matter, and the number of jobs affected is believed to be split evenly between the national newsgathering arm and the local-media business. “It’s no secret that our industry is undergoing a transformation unlike any other, and we’re seeing headlines every day about streamlining across every major media company,” said Chad Matthews, president of ABC’s station group, in a memo Wednesday. While Disney operates streaming hubs such as Hulu and Disney+, and is developing a new ESPN stand-alone service, it does so as the economics of traditional TV, which is based on ad sales and transmission fees, are eroding.
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