Walt Disney shares fell about 3% Thursday after reports of a sweeping television restructuring expected to eliminate hundreds of jobs and consolidate separately operated units. The plan, led by Disney Entertainment Television chairman Debra OConnell, covers ABC Entertainment, 20th Television, Hulu Originals, Disney Kids & Family, National Geographic Content and Freeform, with executive layers overseeing Disney+, Hulu and linear-channel programming among the roles potentially affected. ABC News also faces further reductions. Senior executives are still determining the details, and the plan may not be finalized before year-end. The restructuring follows a voluntary early-retirement program for executives over 50 with at least 10 years of service and a September 30 reduction of more than 300 employees, mainly in human resources and IT, bringing reported 2026 cuts above 1,500 positions. Earlier reductions included around 1,000 roles in April, several hundred last year and 7,000 positions in 2023 under then-CEO Bob Iger as part of a $5.5 billion cost-cutting effort. Disney is scheduled to report fiscal fourth-quarter results on November 12. BofA Securities analyst Jessica Reif Ehrlich maintained a Buy rating and $125 price target, citing theme-park attendance and two new cruise ships while expecting Entertainment weakness from soft box-office results for Moana and The Dog Stars. She kept her fiscal 2027 revenue estimate at $105 billion and earnings forecast at $7.52 per share, while raising projected operating income to $20.8 billion from $20.7 billion. Disney has an overall Buy rating and an average $126 price target among 24 analysts. Shares were reported at $101.75, down 3.00%, in one Thursday update and at $101.72, down 3.03%, later in afternoon trading; the stock touched $101.39 and was about 13% below its $117.09 52-week high. Technically, it remained below its 20-day, 50-day, 100-day and 200-day moving averages, with MACD below its signal line; resistance was identified at $109.50 and support at $98, while a September golden cross left a mixed setup.