In another strategic maneuver, Bob Iger, CEO of Walt Disney ($DIS), is once again shaking up the House of Mouse. Since his return in November 2022, Iger has slashed billions in costs and axed over 8,000 positions. The latest cuts target the company’s TV unit, signaling a broader effort to trim the fat in a struggling business sector.

Bloomberg News broke the story, citing insiders who revealed that Disney plans to eliminate about 140 positions, approximately 2% of staff at Disney Entertainment Television. National Geographic, unfortunately, is bearing the brunt, losing around 13% of its workforce.

Despite these drastic measures, Disney’s stock ticked up by about 1% in afternoon trading, perhaps reflecting investor optimism about Iger’s cost-cutting strategies. The company is set to report quarterly results next week, and so far, Disney has remained tight-lipped about the latest job cuts.

Iger’s return to Disney was heralded as a move to save the company from its floundering trajectory. Under his leadership, Disney has already shed over 8,000 jobs and tightened its belt to compete in the cutthroat streaming market. Consumers’ shift away from cable networks has only added to the urgency of these changes.

The announcement of job cuts coincides with another setback at the box office. The Walt Disney Animation Studios’ latest offering, the musical-comedy Wish, failed to cast a spell on audiences, earning a lackluster $19.6 million over its opening Thanksgiving weekend.

Reflecting on Disney’s recent missteps, Iger candidly admitted, “I’ve always felt that quantity can be actually a negative when it comes to quality. That’s exactly what happened. We lost some focus.” To rectify this, Disney plans to reduce production and concentrate on higher-quality content, with a $25 billion programming budget for the new fiscal year—$2 billion less than the previous year.

Disney’s woes aren’t confined to the silver screen. The entertainment giant has been bleeding money through its Disney+ streaming service, although recent subscription cost hikes have helped stem the losses. Meanwhile, the theme parks, once a reliable cash cow, are also underperforming. Experts attribute this to post-pandemic price hikes and increased competition.

In an effort to stabilize, Disney is slashing about 140 jobs at Disney Entertainment Television, according to Bloomberg UK. Marvel, one of Disney’s crown jewels, had a particularly dismal year, with only Guardians of the Galaxy Vol. 3 standing out amidst a sea of flops like The Marvels and Ant-Man and the Wasp: Quantumania.

Iger’s aggressive cost-cutting measures aim to save $7.5 billion annually. His strategy includes producing less original content for Disney+ to ensure quality over quantity—a move that has already resulted in over 8,000 job cuts, as reported by Bloomberg.

During an earnings call on November 8, Iger acknowledged Disney’s struggle to maintain quality while churning out vast amounts of content. “We lost some focus,” he admitted. To address this, Disney will spend $25 billion on programming in the coming fiscal year, a slight reduction from the previous year’s budget.

As Disney braces for its next quarterly earnings report, all eyes will be on Iger and his bold moves to steer the entertainment titan back on course. One thing is clear: in the battle for Disney’s future, it’s a high-stakes game where only the best content—and strategies—will survive.