Walt Disney Co. has started laying off workers at its broadcast television and cable networks, according to media reports.
The Burbank entertainment and media giant is expected to cut between 100 and 200 operational and non-content positions, such as finance, in all divisions of Disney/ABC Television Group, including ABC Entertainment, ABC Studios, Disney Channel, DisneyXD, Disney Junior and Freeform.
The layoffs are part of a restructuring of the television group, hit by falling number of viewers as they find other ways to watch programs, primarily online.
The staffing cuts were first reported to be imminent in late August by the Wall Street Journal and other news outlets, which pegged the number of layoffs closer to 300 positions.
Thursday shares of Disney closed down $1.62, or about 1.6 percent, to $96.93 on the New York Stock Exchange.