Disney declares layoffs
Bob Iger, the CEO of Disney, has said that the corporation will eliminate 7,000 positions in an effort to save $5.5 billion this year. Iger stated that this decision was made to target cost reductions and reorganize the organization during the company’s quarterly results call.
Warnings issued in the past by the CEO
Insiders said on Tuesday that the business had started making plans for the layoffs. Before being fired, Bob Chapek had previously informed the workforce in a message that the firm would be evaluating its labor policies and procedures in order to discover savings and that there may be personnel reductions.
segment restructuring
Alan Bergman and Dana Walden will now be in charge of Disney Entertainment, which now includes its film studios and streaming services. Josh D’Amaro will continue to oversee Parks, Experiences, and Products while James Pitaro will be in charge of ESPN.
Put the stream first
Iger thinks that streaming is the company’s future despite the employment layoffs. He stated that his strategy for the company’s streaming future included putting an emphasis on key brands and franchises, curating material for general enjoyment, and striking a balance between local and international programming. Iger predicted that while streaming would increase, traditional television will suffer as a result.