Disney's Strategic Shift: Reshaping Amid TV Audience Decline

Disney plans a 6% workforce reduction at ABC News Group and Disney Entertainment Networks, affecting less than 200 employees. Shows like "20/20" and "Nightline" are consolidating, while digital and social teams merge with news operations. The move responds to shrinking TV audiences and a shift to streaming.

Disney plans to reduce its workforce by 6% at ABC News Group and Disney Entertainment Networks, affecting fewer than 200 employees, due to declining TV audiences, according to a source familiar with the matter.

The layoffs are set to be announced this week, with ABC News expected to bear the brunt. Shows such as "20/20" and "Nightline" are merging into a single unit, and Disney is merging its digital editorial, social, and news teams, as reported.

ABC News, the home of "Good Morning America," is also undergoing changes, with all segments coming under one leadership. This restructuring comes as media companies adapt to audience migration from cable TV to streaming platforms.

(With inputs from agencies.)