As part of a continuing cost-cutting initiative, The Walt Disney Company’s television division is set to reduce its workforce by about 2%, which translates to 140 employees. This strategic move, which impacts National Geographic, Freeform, and local TV stations, is part of a broader effort by Disney to streamline operations and curb losses associated with its streaming ventures.

National Geographic will be taking a significant hit with a 13% reduction in its team, although no entire departments are being axed. Disney acquired National Geographic during its monumental $71.3-billion purchase of 21st Century Fox’s entertainment assets in 2019.

The layoffs aren’t entirely surprising given Disney’s recent efforts to rein in spending. Last year, CEO Bob Iger announced a layoff plan set to affect 7,000 positions to save $5.5 billion. Those projections escalated to $7.5 billion in savings and the elimination of 8,000 roles as the company grappled with the intense pressures of the streaming wars, particularly in competing with industry leader Netflix.

Activist investor Nelson Peltz, known for his critical stance on Disney’s strategy, especially regarding the hefty expenditure on streaming and the Fox acquisition, pushed for a clearer path to profitability. Although Peltz’s campaign for a board seat ended in defeat with a shareholder vote, his influence is felt as Disney shifts toward a more sustainable operational model.

Led by Dana Walden, Disney’s television sector sees successful shows like FX’s “The Bear” and Hulu’s “Only Murders in the Building.” Recently, Disney celebrated an impressive haul of 183 Emmy nominations, with FX being the second-most-nominated network, trailing only behind Netflix.

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Source: Samantha Masunaga