The Walt Disney Co. (DIS) is shedding round 200 staff, or simply beneath 6% of the mixed employees at its ABC Information Group and Disney Leisure Networks models, in accordance with a brand new report from The Wall Avenue Journal.

In line with The Journal, which cited individuals aware of the matter, an announcement can be made to staff as early as Wednesday. The report mentioned the ABC information journal reveals “20/20” and “Nightline” are consolidating into one unit. The Journal can be reporting the community is chopping the political and data-driven information website 538 as properly a manufacturing staff at “Good Morning America.» There can be job cuts in program planning and scheduling on the Disney Leisure Networks unit, which homes cable channel FX, the report mentioned.

Disney didn’t instantly reply to a request for remark. The corporate’s shares are roughly flat in premarket buying and selling Wednesday. The Journal mentioned the e-newsletter Standing «first reported that cuts had been coming to ABC Information.»

Disney is, like the remainder of the leisure business, grappling with cord-cutting and the decline of cable networks’ viewers whereas its Disney+ streaming platform has seen subscribers drop quarter-over-quarter at the same time as that of dominant platform Netflix (NFLX) thrives and raises prices. The corporate posted better-than-estimated quarterly outcomes last month though Disney+ subscribers slipped from the prior quarter. The corporate mentioned it expects a «modest decline» within the streaming platform’s subscribers within the second quarter.

Disney’s shares are down 4% previously 12 months by way of Tuesday, whereas these of Netflix are up nearly 60%.