Disney Cuts 300 Workers Amid Streaming Shift

Walt Disney Company has laid off nearly 300 workers in its latest wave of consolidation, affecting mainly human resources and technology divisions. The move is part of CEO Josh D'Amaro's effort to sharpen the company's focus and implement a 'One Disney' approach.

The layoffs come as Disney works to make Disney+ its central streaming hub, with executives diminishing the Hulu service and brand. A recent internal memo revealed that the company's legal government affairs department will also be downsized.

Disney President Dana Walden acknowledged the industry turmoil, citing a need for companies to adapt to changing consumption patterns. She described the voluntary retirement program as 'generous' and said restructurings were necessary for survival and growth.