Disney announced a sweeping restructuring of its television business that will consolidate previously separate divisions and is expected to result in layoffs numbering in the hundreds. The plan is being overseen by Disney Entertainment Television chairman Debra O'Connell, who reports to Disney President and Chief Creative Officer Dana Walden. O'Connell’s portfolio includes ABC Entertainment, 20th Television, Hulu Originals, Disney Kids & Family, National Geographic Content and Freeform, each of which currently maintains its own executive layer for Disney+, Hulu and linear channels; those leadership roles are among those likely to be affected.
At the time the Wall Street Journal report circulated, Disney’s shares were trading at $101.72 on the NYSE, down $3.18 or 3.03% in the afternoon session, touching a session low of $101.39 and sitting roughly 13% below the 52‑week high of $117.09.
Walden, speaking at a Bloomberg conference, described the effort as a move from “a bunch of silos” to a centralized television business and emphasized the need for continual evaluation of structure and size. ABC News, also under O'Connell’s remit, is expected to face additional reductions.
The restructuring follows Disney’s voluntary early‑retirement program launched in August for executives over 50 with at least ten years of service; the opt‑in window closed over the weekend of September 27‑28, and the company waited to assess uptake before proceeding.
The TV overhaul is part of a broader cost‑reduction campaign launched by CEO Josh D’Amaro, who succeeded Bob Iger on March 18, 2026, with a pledge to run “One Disney.” On September 30, Disney laid off more than 300 employees, primarily in human resources and IT, marking the third round of cuts this year. Combined with two earlier rounds, total reductions reported for 2026 have already exceeded 1,500 positions.