Notes from Neverland
Well-Known Member
You are reading this incorrectly.
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News Bob Iger outlines the need to transform the Walt Disney Company resulting in 7000 job losses and $5.5 billion in cost savings
- Thread starter wdwmagic
- Start date
Do we know they aren't doing that already?
DisneyDebRob
Well-Known Member
First page and someone already went political. New record?
DisneyDebRob
Well-Known Member
No, definitely keep the last one. We have waited long enough.
You can't discuss this topic without discussing the economy.First page and someone already went political. New record?
Sorry, what exactly is political about my post? There's simply no denying that the public at large is not in "full-blown panic mode" like they were in 2008.First page and someone already went political. New record?
Discussing the economy or the media is not inherently political.
DisneyDebRob
Well-Known Member
If you didn’t mean to be political I apologize.
Most posts have keywords that signal things. “Mainstream “ is a dog whistle that has been known for years. As for the “ slow rolling recession “ as you put it, I’m not so sure that’s true. Could we be? Possibly but I don’t think so. Just my opinion but I don’t think it’s reality as you put it.
Again I apologize if I was wrong on your post.
Vegas Disney Fan
Well-Known Member
Interesting that ESPN was kept separate from ABC, the studios, D+ and the other media… I wonder if they have plans to sell it off? Why else wouldn’t it fall under the media umbrella? (Although I could be misreading the breakdown.)
TP2000
Well-Known Member
If the total reduction in spending is $5.5 Billion (with a B), then that puts the 30% reduction in labor (AKA layoffs) at a total of $1.65 Billion.
1.65 Billion divided by 7,000 is an average of $235,000 per layoff or eliminated job. You need to factor in about a third of that is not actual salary, but company costs in benefits, 401K, payroll taxes, etc. So the average salary per layoff is probably closer to $160,000 per year.
That's middle management and white collar jobs. For every 45 year old Director or senior management type earning $250,000 per year that gets laid off, there will be a couple of 28 year old cubicle dwellers earning $85,000 per year that get laid off.
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I wonder how many work from home employees start showing up in the office tomorrow.
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“Bob Iger said Wednesday that ESPN is not for sale, though that possibility was explored by the previous regime.
He said he’d expected the question — which came on a call today with Wall Streeters after the company’s latest earnings — after news that Disney is splitting its businesses into three core segments, one of which is ESPN. But, “We did not do it for that reason,” he insisted, meaning to prep ESPN for a sale.”
Bob Iger Says ESPN Not For Sale
Bob Iger said Wednesday that ESPN is not for sale, though that possibility was explored by the previous regime. He said he’d expected the question — which came on a call today with Wall…
deadline.com
TP2000
Well-Known Member
Exactly! They'll all suddenly be in their cubicles bright and early tomorrow.
I said this in another thread, this is what the Burbank cubicle farms will sound like tomorrow morning with the "work from home" types...
"Hi there! Look! I exist! I do stuff! You need me here! I made a fresh pot of coffee in the break room! How are your kids?!"
Brian
Well-Known Member
Suddenly the Associate Director of Business Strategy Integration and Innovation will be doing some... innovative integrations of... the business??Exactly! They'll all suddenly be in their cubicles bright and early tomorrow.
I said this in another thread, this is what the Burbank cubicle farms will sound like tomorrow morning with the "work from home" types...
"Hi there! Look! I exist! I do stuff! You need me here! I made a fresh pot of coffee in the break room! How are your kids?!"
Brian
Well-Known Member
In all seriousness though, no matter how expendable to the company your job is, it doesn't make it any easier to lose it. Having survived many rounds of layoffs at the company before ultimately leaving on my own accord, I've seen the toll it can take (including on those left behind), and I extend my best wishes to those affected.
It's ultimately the fault of the company to hire someone into a role that doesn't need to exist. It's not the employee's fault for occupying that unnecessary role, but they ultimately face the consequences.
It's ultimately the fault of the company to hire someone into a role that doesn't need to exist. It's not the employee's fault for occupying that unnecessary role, but they ultimately face the consequences.
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GhostHost1000
Premium Member
Cmon that’s not true…we all know they haven’t had a business strategy and innovation team for awhile nowSuddenly the Associate Director of Business Strategy Integration and Innovation will be doing some... innovative integrations of... the business??
lazyboy97o
Well-Known Member
Doubly so when it seems to be rooted in a bizarre case of “Keeping up with the Jones’”. Other companies are laying people so we have to do layoffs too.
Alanzo
Well-Known Member
Exactly! They'll all suddenly be in their cubicles bright and early tomorrow.
I said this in another thread, this is what the Burbank cubicle farms will sound like tomorrow morning with the "work from home" types...
"Hi there! Look! I exist! I do stuff! You need me here! I made a fresh pot of coffee in the break room! How are your kids?!"
Management needs to be swiped if people weren't able to do their jobs working remotely.
Nubs70
Well-Known Member
Large company layoffs just started about 3 months ago, the laid off are starting to run out of severance, PTO payouts, and starting on pogie.
Unemployment pays out at around $12 -15k. Travel is going to slow big time.
GhostHost1000
Premium Member
I was thinking the same thing anyways following the post Covid surge and so many revisiting Disney since the pandemic not liking how things are now (genie, park reservations, park hopping, magical express, dining plan, pricing, etc etc etc) so return timelines are likely not going to be as frequent maybe as they were before
Now factoring in all the layoffs, and increase costs of so many other things, Disney parks may take a hit and decrease in guests down the road. I guess they are hoping Moana’s water feature thing will bring in the crowds
CaptainAmerica
Premium Member
Then you don't understand how ideas percolate in a creative company. Yeah, some code monkey or accounts receivable clerk or procurement analyst can put their headphones on and work a productive day without ever interacting with another human being, but most roles aren't like that. People produce higher quality output when they're collaborating face to face. Team formation happens through spontaneous interactions and personal conversations. It doesn't matter how many slack channels you're running or how many zoom check-ins you have every day, you can't capture the spontaneity of "hey what do you think about this" remotely.