Disney Lays Off Hundreds in Film, TV as Industry Woes Linger (2)

Walt Disney Co. is laying off several hundred employees across its film and TV businesses, cuts that underscore the entertainment industry’s contraction is far from over.

The staff reductions began Monday and are falling on employees in marketing, publicity, casting and development, along with corporate financial operations, according to the company.

Hollywood has been in a cost-cutting mode for several years, with production and employment in a downward spiral. Studios have reduced the number of films they release to boost profitability, particularly with theater attendance still below pre-pandemic levels. Consumers, meanwhile, are cancelling cable-TV subscriptions in ...