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Walt Disney Co. is preparing a major restructuring of its television operations that could result in hundreds of layoffs as the entertainment giant moves to consolidate divisions that have traditionally operated independently, according to The Wall Street Journal.
Disney shares fell sharply following the report, closing Thursday at $101.33, down 3.4%. The stock touched an intraday low of $101.39 and remains about 13% below its 52-week high of $117.09.
The Disney TV restructuring is being led by Disney Entertainment Television Chairman Debra OConnell, who reports to Disney President and Chief Creative Officer Dana Walden. OConnell oversees businesses including ABC Entertainment, 20th Television, Hulu Originals, Disney Kids & Family, National Geographic Content and Freeform.
Many of these units currently have separate management teams responsible for programming across Disney+, Hulu and traditional television networks. The planned consolidation is expected to eliminate some overlapping leadership positions as Disney seeks to create a more centralized television organization.
Walden said at a Bloomberg conference Thursday that Disney intends to bring separately managed divisions together into a unified television business rather than operating them as individual silos. She also emphasized the need to continually assess the company's organizational structure and size. ABC News is reportedly facing additional job reductions.
Details of the overhaul are still being developed, and the restructuring may not be finalized before the end of 2026. Disney recently completed an early-retirement program aimed at executives over age 50 with at least 10 years at the company. Management reportedly waited to evaluate participation before moving forward with broader television cuts.
The restructuring forms part of Disney's wider cost-cutting strategy under CEO Josh D’Amaro, who succeeded Bob Iger on March 18, 2026, and has promoted a "One Disney" approach.
Disney laid off more than 300 employees, mainly in human resources and information technology, on September 30. Including two previous rounds, the company's reported 2026 job reductions have already exceeded 1,500 positions.
