Posted on 02/08/2023 4:57:50 PM PST by Morgana
Disney's Bob Iger is planning to lay off 7,000 employees in a 'significant transformation' to cut back costs as he eliminates some of his predecessor's efforts.
On Wednesday, Iger announced his plans to restructure the company, effectively eliminating the Disney Media and Entertainment Distribution group set up under former CEO Bob Chapek.
The new structure, according to the Hollywood Reporter, will have only three divisions, Disney Entertainment — which will include film and TV assets as well as Disney+; ESPN — which will include ESPN and ESPN+; and Parks, Experiences and Products — which will include theme parks and the consumer products team.
As part of that changeup, Disney will cut 7,000 jobs — representing a little over three percent of its global workforce. The cuts are likely to predominantly affect the entertainment and ESPN divisions, despite the company beating analyst's expectations for the fourth quarter of 2022.
The changeup comes as Florida Gov. Ron DeSantis seizes control of Disney's Reedy Creek Improvement District and the company faces a proxy battle with an activist investor seeking to gain a seat on the board.
In announcing the new structure Wednesday, Iger likened it to changes he made at the media giant in 2005, when he first became CEO, and in 2016, when Disney announced a shift to streaming as it bolstered its assets with the acquisition of 21st Century Fox.
'Our new structure is aimed at returning greater authority to our creative leaders and making them accountable for how their content performs financially,' he said on an earnings call.
'Our former structure severed that link and must be restored,' he continued, noting: 'Moving forward, our creative teams will determine what content we're making, how it's distributed and monetized and how it gets marketed.'
(Excerpt) Read more at dailymail.co.uk ...
Seizing control. Lol how dramatic
Details? Not fond of Govt seizures
LOLOL Burn, you sick bastards!
Disney was granted rights no other company in Florida has. Due to Disney’s entry into Florida politics, these rights have been revoked.
https://en.wikipedia.org/wiki/Reedy_Creek_Improvement_District
Disney World has lost it’s charm. Disneyland is still Walt’s Park.
Hmmmm...???
This could affect their donations to Trump going forward...
https://www.opensecrets.org/pres16/contributors?id=n00023864
https://www.opensecrets.org/2020-presidential-race/donald-trump/contributors?id=N00023864
Disneyworld has been literally a self governing area. The caveat was stay out of politics. After they got into politcs on the gay issue down there, DeSantis is taking their self governing ability away from them.
Disney was God with one thing not to do. Now Disney is just like any other company in Florida. Fairness and equality comes back.
Celebrate, don’t fret.
Way overdue.
Houston Texans?🤣🤣
This isn’t a seizure, it is removing the special privileges Disney was give that no other company has, like running it’s own law enforcement. But DeSantis moves will have long term impact, not the reason for these layoffs.
This isn’t a seizure, it is removing the special privileges Disney was give that no other company has, like running it’s own law enforcement. But DeSantis moves will have long term impact, not the reason for these layoffs.
DisneyWorld = GroomerWorld
Thanks, bigbob
Thanks, bigbob
well, they DO have taxes to consider now, so...
“ The changeup comes as Florida Gov. Ron DeSantis seizes control of Disney’s Reedy Creek Improvement District and the company faces a proxy battle with an activist investor seeking to gain a seat on the board.”
They’re pedophiles and should be shut down
Based on the absolute filth and blatant lies from the latest Disney offerings, the entire company will soon collapse like a toasted marshmallow. And I shall applaud that event.
Disneyland is still Walt’s Park.
Nope not one bit
Hopefully if that occurs the people buying the IPs they have destroyed in recent years are people who will respect them and restore them and declare the recent garbage to be non-canon to the respective franchises.
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