While the company's overall financial performance remains strong per its most-recent results, the layoffs coincide with challenges in Disney's film businesses, in particular the u

Disney says it is laying off several hundred more people around the world, with workers in its film, television and finance departments impacted. The entertainment giant has been under pressure as viewers move away from cable TV subscriptions in favour of streaming platforms.

Walt Disney is one of many media companies looking to revamp its business strategy to pivot from cable to streaming platforms.