Disney had about 220,000 workers as of October 1, of which approximately 166,000 were employed in the United States. A cut of 7,000 jobs represents about 3% of its global workforce. “While this is necessary to address the challenges we’re facing today, I do not make this decision lightly,” said CEO Bob Iger, who returned... Read more
Disney will reduce its workforce by 7,000 employees in a bid to cut costs, Iger said Wednesday on the company’s earnings call for the year-end 2022 quarter. The figure represents 3.2% of Disney’s total headcount of about 220,000 worldwide as of Oct. 1, 2022. The layoffs are part of Disney’s efforts to achieve about $5.5... Read more
ORLANDO, Fla. – The Walt Disney Company will slash 7,000 jobs in an effort to cut costs and will be restructured into three core business segments, CEO Bob Iger revealed Wednesday during the company’s first quarter earnings call. Iger said the company would be restructured into three core business segments: Disney Entertainment, ESPN, and Disney... Read more
The Walt Disney Company announced Wednesday it is trimming its payroll by some 7,000 employees, becoming the latest major firm to cut jobs as economic uncertainty weighs. Disney said it plans to save $5.5 billion in its overhaul, cutting $1.5 billion in operating costs and another $3 billion from reductions in non-sports content — including... Read more
Disney, Apple, Google, and other companies mandating that employees work in the office for most or all of their time claim that any time spent working remotely stifles innovation. According to Apple CEO Tim Cook, “Innovation isn’t always a planned activity. It’s bumping into each other over the course of the day and advancing an... Read more
Peltz’s attempt to join Disney’s board comes just months after the company brought back longtime CEO Bob Iger to lead Disney again. Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. Parker, who also serves as executive chairman at Nike Inc., succeeds Susan Arnold, who won’t stand... Read more
Disney already faces enormous challenges, including ballooning costs at its streaming service and unclear C.E.O. succession plans. Now it faces a proxy fight from Nelson Peltz’s Trian, the activist investment firm known for taking on blue-chip companies like Procter & Gamble. But while their fight became public on Wednesday — after Disney rejected Mr. Peltz’s... Read more
Nelson Peltz wants the company to revamp its streaming business and focus on increasing profits. Disney wants shareholders to vote against his effort to get a seat on the board. The activist investor Nelson Peltz is pushing for a Disney board seat, the company confirmed on Wednesday, saying that it recommended shareholders to vote against... Read more
The Walt Disney Company has named Nike executive chairman Mark Parker as its new board chair, replacing longtime director Susan Arnold, whose term limit is expiring. Parker, a Disney board member since 2016, takes over Disney’s board at a time of transition for America’s largest media company. Bob Iger recently returned as CEO after a... Read more
As broken by Dread Central, Jagged Edge Productions and ITN Studios — the producer and worldwide distributor, respectively, of Blood and Honey — are re-teaming for Bambi: The Reckoning. The planned horror film is based on the Austrian coming-of-age novel Bambi, a Life in the Woods by Felix Salten, which was originally published in 1923... Read more
