Hundreds of employees at the company were affected.

ExclusiveMore layoff news in what has already been a frustrating week. Sources tell Deadline that Disney is in the midst of a new wave of cuts as part of a “cost-cutting initiative.” We’re hearing that around 300 people have been affected by the layoffs, which began yesterday and continue today and tomorrow, with the potential to extend beyond that.

The jobs, all based in the United States, are spread across Disney’s divisions, including legal, human resources, finance and communications, we’ve heard. Among the divisions not affected in this round are Parks and ESPN, as well as Disney Entertainment.

“We are constantly evaluating ways to invest in our business and manage our resources and costs more effectively to fuel the creativity and cutting-edge innovation that consumers value and expect from Disney,” a Disney spokesperson said in a statement to Deadline. “As part of this ongoing improvement work, we reviewed the cost structure of our functions company-wide and determined that there are ways to operate more efficiently.”

Today's cuts follow a round of layoffs on July 31 at Disney Entertainment Television, when about 140 people were let go, representing about 2% of the company's total workforce, and animation studio Disney Pixar, which cut its staff by 14% in May.

Disney's layoffs began yesterday, the same day Paramount Global laid off hundreds of employees in its second round of layoffs aimed at cutting 15% of the company's U.S. workforce, with Paramount+ taking the brunt of the cuts.

Traditional media companies are struggling amid a weak advertising market—despite a surge in spending on political ads and live sporting events—as pay TV continues to decline significantly and ad dollars migrate to digital platforms. Companies are also cutting streaming costs as they shift their focus to profitability for their platforms.

In addition to Disney and Paramount's multiple rounds of employee cuts, Fox Entertainment cut about 30 jobs in a July restructuring when there were also layoffs at Warner Bros. Discovery.