“Disney Slashes ABC News Staff, Shuts Down FiveThirtyEight!”
Disney is cutting nearly 6% of staff across its ABC News and Disney Entertainment Networks divisions, affecting fewer than 200 employees, a source told USA TODAY.
The layoffs primarily impact ABC News, with most affected employees based in New York. Additionally, Disney is shutting down its political polling site FiveThirtyEight and merging three shows: 20/20, Nightline, and Impact x Nightline.
Staff members were notified of the cuts on Wednesday. Disney stated it aimed to minimize job losses while exploring new ways to streamline resources and improve efficiency.
Changes at Good Morning America
All three hours of Good Morning America will now be overseen by a single executive, rather than having a separate production team for the third hour, The Wall Street Journal reported. Simone Swink, a longtime GMA producer since 2010, will take on the lead role.
Disney Stock Update
As Disney focuses on cost-cutting amid competition in streaming, the company reported a 44% increase in adjusted per-share earnings, reaching $1.76 for the October-December quarter, according to Reuters.
As of Wednesday morning, Disney’s stock remained steady, trading around $109.
This article originally appeared on USA TODAY: Disney laying off employees at ABC News, polling site 538 is shutting down