Part 3/10:
Streaming, once heralded as the future of Disney’s growth, also proved problematic. The streaming division, which had been a major focus, resulted in hundreds of millions of dollars in losses, prompting layoffs and restructuring. Disney announced plans to cut approximately 20% of its workforce at Pixar alone, amounting to hundreds of layoffs in an attempt to curb costs. Overall, Disney laid off around 7,000 employees in 2023, further fueling concerns about the company’s declining profitability.