In today’s Q1 2023 earnings call, CEO Bob Iger announced an initiative to cut costs across The Walt Disney Company. As a result, the company will be cutting a significant number of jobs.
According to Iger, Disney will cut approximately 7000 jobs across the company. Iger noted he does not take this decision lightly, but seeks to continue cutting costs across the company and run Disney more efficiently.
This is in line with statements made by Iger last year that former CEO Bob Chapek’s announced hiring freeze would still go on as planned.
Are you concerned about this new development? Let us know in the comments below!
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God forbid the higher ups take a pay cut instead of putting the REAL people that run the company out of work.
You haven’t been on this planet long enough have you?
Hopefully they will kill some open positions rather than laying off
After Iger’s announcement today regarding the 7,000 job cuts, methinks that Disney will have more leverage at the negotiating table next week! Best of luck Cast Members! You are the Magic!
Cost cutting is never fun and perhaps that is the only way left to give remaining employees a raise. They did say they would go back to negotiating with the union. This doesn’t mean 7,000 jobs just in Florida and California since Disney company is world wide. I hate to see anyone lose a job but at this moment I am going to trust Igner for a short bit and see if he can turn things around. Personally, I think in light of the losses from Disney+, he needs to replace the current people in charge of developing Shows snd determining content. Most of the losses are probably from young parents who do not want their young children watching content that is inappropriate in their eyes. Just my personal opinion of course. I don’t subscribe to Disney + for that reason either. The Disney I grew up with and the Disney my children grew up with is not the beast we have today. Disney was the safe go to for children entertainment but no more. You know there is such a thing of age of innocence.
If only they would fire the rest of the staff