Posted on 11/11/2022 7:07:33 PM PST by algore
Disney looks set to become the next major corporation to freeze hiring and cut job after a second straight quarter losing over $1billion.
The news comes after a quarter where, despite the gains, the company continues to lose in the streaming market, nearly doubling year-over-year to $1.47 billion.
Disney CEO Bob Chapek addressed the memo to Disney's division leaders, saying the company is instituting a targeted hiring freeze and anticipates 'some small staff reductions' as it looks to manage costs.
He wrote: 'While certain macroeconomic factors are out of our control, meeting these goals requires all of us to continue doing our part to manage the things we can control - most notably, our costs.'
The move comes after Disney missed Wall Street estimates for quarterly earnings on Tuesday as the entertainment giant racked up more losses from its push into streaming video, which it refers to as its direct-to-consumer business
(Excerpt) Read more at dailymail.co.uk ...
Obviously the Exec team at Disney has no idea
Hahaha, go woke go broke.
And more bad news for Disney: the new Indiana Jones movie is going to be awful.
Piss poor business decisions on Disney’s part.
Go woke, go broke.
We need more remakes with all female cast. More Amber Heard. More “woke” black movies about whiteys injustice. More sexual innuendo in kids movies. And of course more transgenders. Bless their hearts, America can’t get enough of them Hear that Disney? Knock your (checkbook) self out.
This is odd. Their business model and decisions seems so sound?
Deserved.
Isn’t it interesting that the bozobrained mo-rons that have run disney into the ground STILL can figure out what the problem is.
Nope, we aren’t in no stinking recession!
I bet y’all voted Dumb-O-Crat as people dropped your streaming services so they could better afford food.
Enjoy the suck.
Aside from their stupid wokeness, streaming has some weaknesses.
I subscribe to a service monthly, watch the primo content that they locked up exclusively, then I can be done. Unless there is a reason for me to stay.
If there is not, I drop the service.
I think that happens to many, especially outfits like Disney, who insult their subscribers directly.
That’s why so many lose ground.
I hope the firings go really well.
Their movies have been underperforming. And the parks revenue, which is usually their cash cow have started to slow as well.
CC
Overestimation of the number of freaks who are both stupid and rich who wanna go to Disney?
I kinda wanna see them double down again somehow. Pedophile Epstein Island paint scheme and Grislane recruiting while working for Disney will be hard to beat but I really think they can do it.
The stockholders are baying for Chapek’s head on a platter.
CC
It seems nice.
Self inflicted
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