Disney Is Poised to Eliminate Thousands of Jobs Next Week

Bloomberg2023-04-19

Walt Disney Co. plans to cut thousands of jobs next week, including about 15% of the staff in its entertainment division, people familiar with the matter said.The cuts will span TV, film, theme parks ...

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MIe
2023-04-20
MIe
Dis Streamline upside 2024
AdelGYS
2023-04-19
AdelGYS
🔜😞
setia100
2023-04-19
setia100
DIS prepares for the rainy days ahead. The recession ❗🤔

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Some affected workers will be notified as early as April 24. The company declined to comment.Disney said in February it planned to eliminate 7,000 positions from its workforce of more than 220,000, part of an overall strategy to shave $5.5 billion in annual costs.The cuts are coming across the company, the people said, including at Disney Entertainment, which was created in a restructuring this year as home to the company’s movie and TV production and distribution businesses, including streaming.As part of that restructuring, Chief Executive Officer Bob Iger moved to restore authority to creative executives. He elevated key lieutenants including Alan Bergman and Dana Walden, the co-chairmen of Disney Entertainment.As part of that effort, the company is paring its commitment to general entertainment, focusing more on franchise properties and well-recognized brands. 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