ABC News and its local stations group face significant job cuts as parent company Disney continues its cost-cutting measures.
The New York Post reported that ABC News president Almin Karamehmedovic informed staff of the layoffs in a memo on Wednesday.
The network and its local stations group have eliminated 75 positions as part of an ongoing restructuring effort at Disney. Karamehmedovic, who was promoted to his current role in August after serving as executive producer of "World News Tonight with David Muir," emphasized the need to shape a team that can embrace the changing media environment.
The layoffs at ABC News are part of a broader trend in the media industry, with many companies facing similar challenges. Karamehmedovic's memo highlighted the necessity of refining the team to ensure excellence in reporting and content delivery while maintaining sustainability.
A source familiar with the situation confirmed that the job cuts were divided roughly evenly between ABC News and ABC's stations group. The source also noted that no on-air talent was affected by the layoffs, and programming would remain unchanged.
Chad Matthews, president of ABC-owned TV stations, addressed the situation in a separate memo, acknowledging the transformation occurring in the industry. He reassured staff that despite the changes, the company's commitment to viewers would remain steadfast.
The layoffs at ABC News are just one aspect of Disney's broader restructuring efforts under CEO Bob Iger. The company has been implementing cost-cutting measures across various divisions in recent months.
Chad Matthews wrote in his memo to staff:
It's no secret that our industry is undergoing a transformation unlike any other, and we're seeing headlines every day about streamlining across every major media company. Nothing is going to change our commitment to viewers as we evolve our organization to meet the challenges of today and in the future.
Last month, Disney made significant changes to its corporate structure, including the reorganization of its TV studios group. This overhaul resulted in the closure of ABC Signature studio, which was folded into 20th Television.
The recent layoffs at ABC News follow earlier cost-cutting measures implemented by Disney. In July, the company's TV group eliminated 140 jobs across networks such as NatGeo and Freeform. Additionally, Disney-owned animation studio Pixar cut approximately 175 positions earlier in the year.
These changes are part of a larger reorganization effort that began last year, resulting in the elimination of roughly 7,000 jobs across the company. The media industry as a whole has been grappling with similar challenges, forcing many organizations to reassess their operations and workforce.
Karamehmedovic explained in his memo to staff:
As we look to the future and refining a team that is not only capable of excellence in reporting and delivering the highest quality content but is also streamlined and sustainable, we must occasionally make some tough decisions. Unfortunately, today is one of those days.
ABC News and its parent company Disney are navigating a challenging media environment. The recent layoffs reflect the need for adaptability in the face of industry-wide changes. While the job cuts are undoubtedly difficult for those affected, the company aims to position itself for long-term sustainability. The media landscape continues to evolve, and organizations must make tough decisions to remain viable in an increasingly competitive market.
