News Bob Iger outlines the need to transform the Walt Disney Company resulting in 7000 job losses and $5.5 billion in cost savings

[Disstevefan1]

Iger doesn’t green light tenants at Disney Springs.

Disney Springs leasing agent on the phone with the NBA -

Disney Springs leasing agent: You want to what?

NBA: Put the NBA experience where Disney Quest is. We will pay to tear Disney Quest down and put up our building.

Disney Springs leasing agent: Well, that's good, that won't cost us anything, and we ae not making enough money in Disney Quest and we hate paying cast members, so tell me, what is this NBA thing? Do we get to watch NBA stars play one on one in a tournament, maybe some cool meet and greets with NBA stars, autograph sessions with NBA stars, stuff like that.

NBA: Well not exactly.

Disney Springs leasing agent: What then?

NBA: We charge folks a lot of money to shoot some baskets and then try to sell them some NBA merchandise.

Disney Springs leasing agent: You got to me kidding me, hold on, I got another call.

Disney Springs leasing agent: Hello? Who? Oh, Mr. Iger? Hello Sir, how may I help? Oh yes, the NBA Experience, you love it and really think it will be an excellent, inclusive experience for our Disney Springs guests. Oh I agree with you Sir, thanks for calling.

Disney Springs leasing agent back on the phone with NBA: Ya know, after thinking about This NBA experience is a great idea! You pay to demolish Disney Quest and build your building, pay two years rent up front and sign a 10-year lease and you got a deal! Call ends.

Disney Springs leasing agent says to himself, "What a stinker! Well at least we can get rid of the Disney Quest building for free and make some money before it fails, LOL.

 

[Lilofan]

Disney Springs leasing agent on the phone with the NBA -

Disney Springs leasing agent: You want to what?

NBA: Put the NBA experience where Disney Quest is. We will pay to tear Disney Quest down and put up our building.

Disney Springs leasing agent: Well, that's good, that won't cost us anything, and we ae not making enough money in Disney Quest and we hate paying cast members, so tell me, what is this NBA thing? Do we get to watch NBA stars play one on one in a tournament, maybe some cool meet and greets with NBS stars, autograph sessions with NBA stars, stuff like that.

NBA: Well not exactly.

Disney Springs leasing agent: What then?

NBA: We charge folks a lot of money to shoot some baskets and then try to sell them some NBA merchandise.

Disney Springs leasing agent: You got to me kidding me, hold on, I got another call.

Disney Springs leasing agent: Hello? Who? Oh, Mr. Iger? Hello Sir, how may I help? Oh yes, the NBA Experience, you love it and really think it will be an excellent, inclusive experience for our Disney Springs guests. Oh I agree with you Sir, thanks for calling.

Disney Springs leasing agent back on the phone with NBA: Ya know, after thinking about This NBA experience is a great idea! You pay to demolish Disney Quest and build your building, pay two years rent up front and sign a 10-year lease and you got a deal! Call ends.

Disney Springs leasing agent says to himself, "What a stinker! Well at least we can get rid of the Disney Quest building for free and make some money before it fails, LOL.

And to add to the cast member " experience " free admission to them! ( to get bodies into the building ) when NBA saw that guest attendance was going so poor.

 

[Lilofan]

How often do you actually swallow the pearls?

Pawn shops…”bad neighborhoods”…”funny smokes”…

Good god, Ward…protect June so she can get back to the kitchen

Irony that illegal drugs policy in resorts can be enforced for some and not for others but Russell Westbrook left a $8K tip to housekeeping !

 

[Lilofan]

Adam Silver is really good at promoting innovation and has, so far, handled PR issues pretty well.

I think he's ideal for "returning the power back to creatives" and leaving Adam to managing the broader organization.

If Disney wants to improve its position in the China market , Silver can be the man to get them there. NBA under Silver is king in China . Silver contract with NBA expires in 2024. How convenient if he gets the Disney CEO job this year or next year if he is the guy the Board approves. I can see ESPN being a bed fellow with Silver , increased sports and betting world investments and exposure if he gets the top Disney job.

 

[plutofan15]

There is no such thing as “lost revenue”…by definition.
You make money on a given day or you don’t…and then the day is over.
Don’t play their game with semantics meant to be pitied.

Let’s talk about now 5+ years of company wide mismanagement and missteps. It’s a doozy of a list.
95% on Iger. Lesson Endeth

However you want to phrase it, the company has not yet recovered from what was lost during the pandemic missteps or not. Budgets were impossible to put in place and stick to during the shutdown, the tiered openings and slow recovery.

 

[Sirwalterraleigh]

Irony that illegal drugs policy in resorts can be enforced for some and not for others but Russell Westbrook left a $8K tip to housekeeping !

…and Fabiola went home rich AND happy that day

 

[Sirwalterraleigh]

However you want to phrase it, the company has not yet recovered from what was lost during the pandemic missteps or not. Budgets were impossible to put in place and stick to during the shutdown, the tiered openings and slow recovery.

They lost overhead…that is true. Sunk cost.

But they are not short of cash…the 1980s ended long ago.

But they also suffer from their own stupidity. The movie studios are a mess…the streaming service will be what it always gonna be: just above water…

And parks? Shot themselves in the foot. Laying off their orlando staff was the DUMBEST move they could have ever pulled….very predictably so.

 

[Lilofan]

I miss the philosophy behind disneyquest…the waterparks…boardwalk…

Disney needs a different Philosopher

Loved the non advertised perk at Disney Quest back in the day . I was allowed one hour free entry to eat in the food court on the top floor. I ate for 10 min then played video games for 50 min. One hour of fun cost me $6.95 for a lunch special. Surprisingly I ran into cast dressed in business attire one even wearing his nametag playing video games , on their lunch break?

 

[DCBaker]

“Over the past two weeks Disney managers have been given targets to reduce their budgets along with headcount, according to a person familiar with the company.

Disney bean counters have been looking carefully across the company in an attempt to find redundancies and eliminate executives where they can. Executives have been directed to prepare budget cuts and lists of employees to be laid off, and this person believes the news will come down in April, as managers have been told to turn in their lists in the next few weeks. It's unclear whether Disney will conduct the layoffs in smaller waves over a longer period of time or drop the hammer on thousands at the same time.

CEO Bob Iger had announced his plans to collapse the centralized content and distribution unit DMED on his first day back at the company in November. He further announced plans to eliminate 7,000 jobs on the company's February earnings call. At least 4,000 of those cuts will come from current headcount, with the rest from open positions, according to this person, who is familiar with what managers have been told.

Disney declined to comment.”

Full article below.

Disney executives are being directed to identify thousands of layoff candidates by April as CEO Bob Iger targets $5.5 billion in spending cuts

During Disney's February earnings call, CEO Bob Iger announced plans to eliminate 7,000 jobs across the company.

www.businessinsider.com

 

[Doberge]

Dear Bob Iger,



Or so we were promised by many people. Is Iger basically pushing through with Chapek's plan but coming off as more polished?

 

[Elijah Abrams]

Dear Bob Iger,



Or so we were promised by many people. Is Iger basically pushing through with Chapek's plan but coming off as more polished?

Or he's doing this to make it easier for his (true) successor (or two) to run Disney.

 

[Sirwalterraleigh]

Dear Bob Iger,



Or so we were promised by many people. Is Iger basically pushing through with Chapek's plan but coming off as more polished?

I’ll go you one further…

It was impossible for chapek to have and implement a “plan” in two years in a company so massive.
And remember Bob hung around for the first year anyway.

Since you brought up prequels…remember how there was no way/need to conceal the identity of “darth sidious”? But George did this thing where it would be a “mystery” for 5 year olds?

…what was I saying Again?

 

[Sirwalterraleigh]

Or he's doing this to make it easier for his (true) successor (or two) to run Disney.

Well he actually might be…but no question unintentionally

It may soon get to the point that anyone looks better.

His “course corrections” have done zero for the bottomline (what Wall Street cares about) and isn’t creating the scenario where traders can say its “all potential” and invent money off the stock (what wall steeet REALLY wants)

One bad day this week - and it’s coming as the world markets try to cover up a banking collapse scenario - and DIS will officially be back below “the Slaphead line”

The price that it closed at on 11/18/22.

So that’s not showing the “power of Bob” too much, is it?

After he cowardly quit and messes with board doings and went Julius Caesar…

Nope.
When is that proxy vote again?

 

[GhostHost1000]

I’ll go you one further…

It was impossible for chapek to have and implement a “plan” in two years in a company so massive.
And remember Bob hung around for the first year anyway.

Since you brought up prequels…remember how there was no way/need to conceal of the identity of “darth skdious”? But George did this thing where it would be a “mystery” for 5 year olds?

…what was I saying Again?

I don’t think Bob really gave up control, except at times when he wanted chapek to hang himself so he could look like the savior when he comes back on his white horse

 

[Sirwalterraleigh]

I don’t think Bob really gave up control, except at times when he wanted chapek to hang himself so he could look like the savior when he comes back on his white horse

Well there is zero doubt to a semi-conscious adult humanoid that he was manipulating the board now. That was evident.

But still…I’ll be called a conspiracy theorist by golden years fools who will then pivot and talk about “experiences” at a breakfast Buffet they’ve been to 23 times

…you know how it is

 

[networkpro]

Well there is zero doubt to a semi-conscious adult humanoid that he was manipulating the board now. That was evident.

But still…I’ll be called a conspiracy theorist by golden years fools who will then pivot and talk about “experiences” at a breakfast Buffet they’ve been to 23 times

…you know how it is

Or maybe a baldheaded strawman was needed to blunder about for a few years to provide the basis to cull a bloated middle management culture that has evolved over time without check.

 

[Drdcm]

Well there is zero doubt to a semi-conscious adult humanoid that he was manipulating the board now. That was evident.

But still…I’ll be called a conspiracy theorist by golden years fools who will then pivot and talk about “experiences” at a breakfast Buffet they’ve been to 23 times

…you know how it is

Per our recent interactions, I think you’re right. My mind has changed. His days are limited, too many ppl are seeing through his crap at this point.

 

[Lilofan]

I don’t think Bob really gave up control, except at times when he wanted chapek to hang himself so he could look like the savior when he comes back on his white horse

Maybe reminds me of the Disney Touchstone film - Who Framed Roger Rabbit?

 

[Sirwalterraleigh]

Per our recent interactions, I think you’re right. My mind has changed. His days are limited, too many ppl are seeing through his crap at this point.

Peltz is a clown…but he’s an experienced clown. He’s just the spearhead

The idea that is there wasn’t ALOT of big money people behind him before he opened his mouth just doesn’t scan

 

[Sirwalterraleigh]

Or maybe a baldheaded strawman was needed to blunder about for a few years to provide the basis to cull a bloated middle management culture that has evolved over time without check.

He sucks, dude…the jury is back now.

Doesn’t matter how much shade he throws at Slaphead now. The curtain has been peeled back.

The die is cast

And I’m not disagreeing with you. But all that “culture” is 100% on sweater Bob.

Their units are trending down…really all of them. Even the profitable ones.

Can’t use Eisner as the boogieman anymore, can’t put it all in chapek’s cup of coffee