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

[Lilofan]

"Cost reductions will be comprised of approximately 50% marketing, 30% labor, and 20% technology procurement and other expenses"

Chapek shortly before he was fired, said that there would be layoffs. Iger is following through with it.

 

[Alanzo]

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.

Regardless of which positions need to be in person and which don't, the OP's implication was that a bunch of employees were going to now go into the office to show off how useful they are. If management needs to see people in the break room to remember what somebody does, then management needs to be swiped.

 

[Hakunamatata]

First page and someone already went political. New record?

More financial than political.

 

[DisneyCane]

First page and someone already went political. New record?

How was that comment political? The poster was commenting about economic conditions which are relevant to a discussion about Disney layoffs.

 

[Alanzo]

How was that comment political? The poster was commenting about economic conditions which are relevant to a discussion about Disney layoffs.

Suggesting that the "mainstream" news won't report on things is feeding into the very political idea that there's a conspiracy where the powers that be are controlling what information you receive and that you need to seek out "alternative" news sources or "do your own research" to find the actual facts.

 

[Tha Realest]

Suggesting that the "mainstream" news won't report on things is feeding into the very political idea that there's a conspiracy where the powers that be are controlling what information you receive and that you need to seek out "alternative" news sources or "do your own research" to find the actual facts.

It’s not political in the sense of R vs D, left vs right. Both sides in their own way have grievances against the mainstream media and what they choose (or don’t choose) to cover.

When it comes to economic news - which is what OP was referring to - I think it has to do more with socioeconomic and class issues than conventional US politics. Disney’s laying off 7,000 people and the financial class (and their cheerleaders in the major media markets) are celebrating. You don’t see a dissonance there?

 

[Casper Gutman]

It’s a pretty sad state of affairs that Disney is laying off thousands, largely in order to pay dividends to stockholders at the demand of a corporate raider who once partnered with Jeffrey Epstein and Harvey Weinstein, and the first impulse here is to mock the employees.

 

[CaptainAmerica]

Regardless of which positions need to be in person and which don't, the OP's implication was that a bunch of employees were going to now go into the office to show off how useful they are. If management needs to see people in the break room to remember what somebody does, then management needs to be swiped.

Got it.

I read the post as "managers have no reason to call employees back to the office" rather than "managers who have no idea what their employees are doing when they work from home suck." If your point was the latter, then I agree.

It's also sort of beside the point because the managers are among the Disney employees griping about return-to-office. It's only the very senior executives who are pushing it (but I agree with them).

It’s a pretty sad state of affairs that Disney is laying off thousands, largely in order to pay dividends to stockholders at the demand of a corporate raider who once partnered with Jeffrey Epstein and Harvey Weinstein, and the first impulse here is to mock the employees.

No.

1. You're right that the purpose of the dividend is to shut up Peltz, but it's going to be miniscule. They're doing it just to be able to say they did it.

2. The layoffs were going to happen with or without the return of the dividend.

3. "The stockholders" are groups like the California Public Employees' Retirement System, so when you rant against "the stockholders" you're not making some bold stand against the robber barons of late capitalism, you're dunking on retired teachers.

 

[Tha Realest]

a corporate raider who once partnered with Jeffrey Epstein and Harvey Weinstein

 

[CaptainAmerica]

Leslye Headland

*shudders*

 

[DisneyDebRob]

How was that comment political? The poster was commenting about economic conditions which are relevant to a discussion about Disney layoffs.

Good to see you again! We haven’t had a go around in a long time! lol Anyway,@Alanzo said exactly and better then I would have put it. Hope you are doing well!

 

[lazyboy97o]

3. "The stockholders" are groups like the California Public Employees' Retirement System, so when you rant against "the stockholders" you're not making some bold stand against the robber barons of late capitalism, you're dunking on retired

Those teachers aren’t actively managing the account. They’re not the ones demanding that companies make layoffs for reasons because there’s been this odd cultural attitude that layoffs are just needed regardless of their actual efficacy.

 

[Casper Gutman]

Got it.

I read the post as "managers have no reason to call employees back to the office" rather than "managers who have no idea what their employees are doing when they work from home suck." If your point was the latter, then I agree.

It's also sort of beside the point because the managers are among the Disney employees griping about return-to-office. It's only the very senior executives who are pushing it (but I agree with them).


No.

1. You're right that the purpose of the dividend is to shut up Peltz, but it's going to be miniscule. They're doing it just to be able to say they did it.

2. The layoffs were going to happen with or without the return of the dividend.

3. "The stockholders" are groups like the California Public Employees' Retirement System, so when you rant against "the stockholders" you're not making some bold stand against the robber barons of late capitalism, you're dunking on retired teachers.

So every single Wall Street investor is a retired teacher? Guys like… say… Peltz are figments of my fevered imagination?

Or perhaps we’re both oversimplifying a bit?

 

[Alanzo]

It’s not political in the sense of R vs D, left vs right. Both sides in their own way have grievances against the mainstream media and what they choose (or don’t choose) to cover.

When it comes to economic news - which is what OP was referring to - I think it has to do more with socioeconomic and class issues than conventional US politics. Disney’s laying off 7,000 people and the financial class (and their cheerleaders in the major media markets) are celebrating. You don’t see a dissonance there?

At the macro level anyone losing their job is not something to celebrate. No disagreement from me there. I've been fired unjustly and it scarred me so I feel for these employees.

And yes, it's disgusting that financial types are celebrating but they'd celebrate news about a Stitch Fart Kitetails attraction if they thought it'd make the stock ticker go up. They are generally immune to morality.

I think the fixation over 7,000 without context is meaningless. How many people does Disney employee? How does this compare to other layoffs?

 

[ToTBellHop]

Before we lay-off any underlings, how good is the pot of coffee they make? They should do this Survivor-style because the one guy who makes the best coffee absolutely must stay.

 

[Alanzo]

Before we lay-off any underlings, how good is the pot of coffee they make? They should do this Survivor-style because the one guy who makes the best coffee absolutely must stay.
View attachment 697339

Who has the best meme that they saw yesterday? Now that everybody is going back to the office, those who remember how to use a printer are allowed to print, in full color, their entry.

 

[GhostHost1000]

It’s a pretty sad state of affairs that Disney is laying off thousands, largely in order to pay dividends to stockholders at the demand of a corporate raider who once partnered with Jeffrey Epstein and Harvey Weinstein, and the first impulse here is to mock the employees.

Price gouge the customers to pay stockholders

 

[GhostHost1000]

Who has the best meme that they saw yesterday? Now that everybody is going back to the office, those who remember how to use a printer are allowed to print, in full color, their entry.

This is by far the best meme I saw yesterday on here

 

[KeithVH]

Was it explicitly stated where the layoff headcount was coming from? I just naturally assumed it would be peanut buttered across TWDC (evenly or not) but I don't knw whether that was stated or not.

 

[GhostHost1000]

Was it explicitly stated where the layoff headcount was coming from? I just naturally assumed it would be peanut buttered across TWDC (evenly or not) but I don't knw whether that was stated or not.

My guess is business/technical office workers mainly