Disney CEO Bob Iger has confirmed the first of three rounds of layoffs is starting this week as the company looks to reduce its workforce by about 7,000 employees
has confirmed the first of three rounds of layoffs is starting this week as the company looks to reduce its workforce by about 7,000 employees.last week — three rounds of cutbacks, with the second slated to be the deepest. This week’s initial round comes a few days before the company’s annual shareholder meeting on April 3. Iger had first announced plans for the downsizing in February, describing it as a key to achieving $5.5 billion in cost savings.
Iger returned to the top job last November after stepping down in 2020 following a 14-year CEO stint. He faces a host of challenges in steering the media giant the second time around, including a more adverse macroeconomic climate and far greater Wall Street skepticism about the economics of streaming. He has already dismantled the centralized distribution structure implemented by former CEO Bob Chapek and set up three corporate divisions.
The reduction in staff could be a tonic for Disney’s stock, at least in the short term. As with many media stocks over the past year-plus, Disney shares have hit hard times, losing about half their value since summer 2021. While the stock surged after Iger’s return, it has mostly moved sideways in recent months.
The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here. That’s part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Disney Layoffs Start This Week, Bob Iger Tells Employees As 7,000 Cuts LoomThere will also be a 'larger' round of layoffs in April, and a third round before summer. 'There will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward,' the CEO told staff in a memo.
Weiterlesen »
Disney layoffs begin. 7,000 job cuts to finish before summerDisney CEO Bob Iger announced in February that the company would shed 7,000 jobs after losing billions on streaming. Layoff notices begin this week.
Weiterlesen »
Dow CEO talks clean energy, Huntsman CEO criticizes shift from fossil fuels at Houston chemicals conferenceThe leaders spoke in consecutive panels during the annual World Petrochemical Conference...
Weiterlesen »
Disney's Bob Iger Still Plans to Spend $30 Billion on Content While Laying Off 7,000 PeopleIn the face of an unprecedented profitability crisis and the repeated failure of its woke content, Walt Disney Co. executives seem to have settled on a solution: double down on the woke and fire rank-and-file employees.
Weiterlesen »
Disney to Begin Layoffs of 7,000 Staffers This Week: Bob Iger Cites Need for ‘Streamlined Approach to Our Business’Disney will begin layoff notices this week for more than 7,000 staffers whose positions will be eliminated as part of a deep cost-cutting effort that will be felt across all of the company’s key divisions.
Weiterlesen »
850-piece Disney auction in Beverly Hills lets super fans take home special piece of the parksMore than 850 pieces of Disneyland artifacts are up for auction at Heritage Auctions in Beverly Hills, including signs from Disney parks, statues from Disney stores, and décor from Disney hotels.
Weiterlesen »