Walt Disney is laying off several hundred employees in film, television, and corporate finance. For more on the recent news, let's welcome in Yahoo Finance's Allie Canal. Allie.

Hi, guys. Yes, uh Disney confirming this to Yahoo Finance, saying the cuts are part of a broader push to streamline operations as the company adapts to a rapidly changing media landscape. Like you just mentioned, impacted areas include marketing for both film and television, TV publicity, casting and development along with corporate financial operations. Disney said it's taking a surgical approach to minimize the number of employees affected, emphasizing that no teams are being eliminated as part of the process. Now, shares were little changed on the news, but this latest round does follow a series of earlier layoffs at the company. Since 2023, Disney has cut more than 8,000 jobs in an effort to reduce annual costs by $7.5 billion. Earlier this spring, the company slashed nearly 200 jobs in its news and entertainment division, mainly impacting ABC News and leading to the shutdown of 538. And we know there's been a major push to streaming across all of these traditional cable players. That's what's fueled a lot of these job changes. In its latest earnings report, Disney said that they saw a 13% drop in linear network revenue, while direct-to-consumer revenue jumped 8%. So we're seeing that sharp pivot to digital continuing to play out. We're also at a time where a lot of these companies are looking at AI efficiencies and trying to really fix their balance sheets and streamline operations, like Disney said. The stock, though, has been on a tear since the last earnings report. We're up over 20% since the past month. So, we'll see how things continue to play out here. But for now, it seems like the financial story for Disney is intact, and they have other growth areas to lean on, but that often means potentially some job cuts to come with that.

All right. Thank you, Allie. Appreciate it.