Roughly 75 employees at Disney ‘s ABC News and local station operations will be laid off, part of a series of cost-cutting measures across the media giant in response to challenging market conditions.

Employees were notified Wednesday of the staff reductions, according to a person familiar with the matter, and the number of jobs affected is believed to be split evenly between the national newsgathering arm and the local-media business. Disney’s ABC owns eight stations in cities such as New York, Los Angeles, Philadelphia and San Francisco. ABC News is responsible for flagship ABC programs including “Good Morning America” and “World News Tonight.”

Disney has been reviewing its staffing and operations and has laid off employees in other parts of its business in recent weeks. In late September, the company let go of approximately 300 employees across different corporate departments. On Monday, the company merged some of its TV studios, combining teams previously dedicated to developing scripted comedy or drama at ABC or Hulu.

“Across the various ranks of ABC News, a limited number of our colleagues are being affected by staff reductions. As you know, this has been happening across the broader company and the industry at large in recent weeks and months,” said Almin Karamehmedovic, president of ABC News , in a memo to employees on Wednesday. “For us, it means shaping a team that embraces the new media landscape and evolves along with it, which we must do to continue serving our viewers.”

“It’s no secret that our industry is undergoing a transformation unlike any other, and we’re seeing headlines every day about streamlining across every major media company,” stated Chad Matthews, president of ABC’s station group, in a memo on Wednesday. “While we’re not immune to the pressures facing this business today, we have been — and will continue to be — strategic with decisions about our organization’s future.

Similar to its competitors, Disney is navigating a dramatic shift in the media landscape, marked by a rapid migration of viewers from traditional television to streaming services. While Disney operates streaming platforms like Hulu and Disney+ and is developing a new ESPN stand-alone service, these efforts are occurring amidst declining revenues from traditional TV, which relies on advertising sales and distribution fees.

None of the anchors assigned to ABC News’ most popular programs are anticipated to be affected at this time, according to the informed source. Executives believe these layoffs will not impact any national or local programming, and no specific employee teams or groups are being eliminated as part of the downsizing.