The less than 200 employees impacted by the cuts were notified of the news on Wednesday.

Disney is cutting nearly 6% of staff across its ABC News and Disney Entertainment Networks units, the company confirmed.

The layoffs will affect under 200 employees, representing less than 6% of the total ABC News Group and Disney Entertainment Networks workforce, Richard Horrmann, senior vice president of strategic communications for Disney Entertainment Television, told USA TODAY in an email on Wednesday.

The company also plans to dissolve its 538 brand, a popular political polling website, and merge three shows: “20/20,” “Nightline” and “Impact x Nightline.”

“While winding down the 538 brand, ABC News will continue to provide best-in-class polling and political data analysis that it has offered for decades,” he said.

Staff members who were laid off were notified Wednesday, Horrmann added. The majority of the laid-off employees work at ABC News, with most of them being based in New York, he said.

“We have worked hard to minimize the number of affected employees as much as possible,” Horrmann said in a statement, adding that the company is evaluating “new ways to effectively manage resources and boost efficiencies.”

Production change at ‘GMA’

All three hours of “Good Morning America” branded shows will be overseen by one individual, as opposed to a third hour having its own production team, the Wall Street Journal reported. Horrmann said the individual in the head position will be Simone Swink, who has been with “Good Morning America” since 2010, according to IMDB.

Disney stock

While Disney attempts to cut costs as it competes with other streaming services in delivering an array of content to users, the company did report a 44% jump in adjusted per-share earnings of $1.76 for the October-December quarter, according to Reuters.

As of Wednesday morning, Disney’s stock was close to even on the day, hovering around $109.

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Hi, I’m Michael Erst, a finance writer dedicated to making money matters clear and accessible. I cover everything from investing and market trends to personal finance strategies and economic insights. My goal is to help you navigate the world of finance with confidence, whether you're managing your budget, exploring new investment opportunities, or keeping up with the latest financial news.

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