### Disney Undertakes Major U.S. Job Cuts Amid Cost-Saving Endeavors

In another bout of disheartening news, Disney has embarked on a fresh wave of layoffs as part of its ongoing cost-saving initiative, sources have revealed. Approximately 300 employees in the United States are impacted by these job reductions, which began yesterday and are expected to continue through today and possibly further into the week. This wave of layoffs is primarily targeting corporate functions such as legal, human resources, finance, and communications.

Among the divisions spared from this current round of layoffs are Disney's Parks, ESPN, and Disney Entertainment. "We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney," a Disney spokesperson explained in a statement. "As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently."

This round of layoffs follows a series of reductions in Disney’s workforce earlier this year. On July 31, Disney Entertainment Television laid off about 140 employees, which constituted roughly 2% of its total workforce. Additionally, Disney's animation studio Pixar reduced its staff by 14% in May of this year.

The latest job cuts began on the same day that Paramount Global commenced its second round of layoffs, which also aimed at reducing overhead costs. Paramount's recent cuts focused primarily on their streaming service, Paramount+, and targeted about 15% of the company's U.S. workforce. Other traditional media companies, including Warner Bros Discovery and Fox Entertainment, have similarly been trimming down staff to cope with a challenging ad market and shifting priorities towards profitability in their streaming platforms.

As traditional media continues to struggle with a declining pay-TV landscape and a migration of ad dollars towards digital platforms, major companies like Disney and Paramount are compelled to continually adjust their cost structures and investment strategies.