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

[ToTBellHop]

Data to back that up? Or just spouting opinion as fact?

You best slow your roll. Dude has a friend with the Infinity Gauntlet.

 

[CaptainAmerica]

Data to back that up? Or just spouting opinion as fact?

Wut? What is or isn't a "great movie" is the very definition of an opinion. I'm spouting opinion as opinion.

You best slow your roll. Dude has a friend with the Infinity Gauntlet.

RIP in peace.

 

[Smiley/OCD]

Nobody who wears a costume to work is going to be impacted.

That’s what I thought too…I think that would be corporate suicide…

 

[MrPromey]

FL Health services and quality is night and day compared to NE Tri-State ( NJ, NY, CT ).

Medical is the one thing all those incoming "got theirs" do care about here so of course that's going to be booming.

 

[CaptainAmerica]

That’s what I thought too…I think that would be corporate suicide…

There's a lot of natural turnover in the parks, both organic as well as things like the college program; not to mention flexibility when it comes to staffing part-time and seasonal workers. Absent something like 9/11 or COVID, the need for actual layoffs on the front lines should be non-existent. If they forecast a downturn in demand, they simply don't backfill open roles, bring in less seasonal workers, etc.

 

[James Alucobond]

That’s what I thought too…I think that would be corporate suicide…

They have said some of the cuts will come from open positions. I would expect most / all things meaningfully impacting the parks to come from that group.

 

[Sorcerer Mickey]

Everything about TWDC is sad at this point.

Starting with the head honcho.

They need something new. Not the 2010 playbook…which caused the damage you’re seeing right now.

It really is surprising to see how far Disney has fallen since the highs of 2019. They practically owned the box office for years and the theme parks were overflowing. They're still making tons of money, but they do seem to be on the decline.

 

[CaptainAmerica]

That’s what I thought too…I think that would be corporate suicide…

Yeah I mean, it's not just speculation on my part... Josh D'Amaro literally said it.

"As we determine our approach on achieving these savings, we will remain focused on delivering the best guest and consumer experiences, and do not expect this to affect our hourly frontline Operations roles."

 

[Drdcm]

"The company" is not monolithic. When it rains in Orlando, they don't stock the shelves with extra umbrellas in Anaheim. One has nothing to do with the other. If anything, cost cutting in overhead areas and content production frees up cash flow to be used for investment in the parks.

I really don’t think it’s much of a stretch to think the parks are going to suffer from company wide cost savings measures, but apparently that’s a ridiculous thing to worry about. I truly hope that you’re right and I’m wrong.

 

[monothingie]

"As we determine our approach on achieving these savings, we will remain focused on delivering the best guest and consumer experiences, and do not expect this to affect our hourly frontline Operations roles."

 

[networkpro]

There has only been one post-Covid Pixar film, Lightyear. It did fail big in the box office. However, the critical and audience ratings aren't bad at all.

The previous films to Lightyear have received very good critical and audience ratings. But they were released to D+ at the same to whatever theaters were open worldwide. So, it's impossible to judge their box office performance.




Since when is two a 'churn'? Lightyear I mentioned above. And Strange World did indeed do poorly at the box office and with critical and audience ratings. But before that was the immensely popular Encanto.

Being liked doesnt put money in Bob's pocket, being profitable does.

 

[Newtwo]

Anyone who thinks Iger is some sort of savior that is coming back to save the company from the things that Chapek did is out of their mind.

The vast majority of what is wrong with Disney right now happened under Iger before he left.

They never should have paid what their paid for Fox and put themselves in so much debt.

They never should have had a blank check for all the Disney+ content.

The list goes on and on.

Iger is another evil wallstreeet business man who only cares for the bottom line.

Just another greedy corporate ahole who spouts all the nonsense he can to make himself sound good to his employees, when, at the end of the day, he'll just cut them without batting an eye.

 

[networkpro]

You best slow your roll. Dude has a friend with the Infinity Gauntlet.

 

[Sirwalterraleigh]

It really is surprising to see how far Disney has fallen since the highs of 2019. They practically owned the box office for years and the theme parks were overflowing. They're still making tons of money, but they do seem to be on the decline.

I think it’s “institutional rot”…and when that happens - it seems good for while as it sets in.

The problem starts on the top floor of the dwarf house. Change is needed. And it’s a ticking bomb at this point.

 

[CaptainAmerica]

Anyone who thinks Iger is some sort of savior that is coming back to save the company from the things that Chapek did is out of their mind.

The vast majority of what is wrong with Disney right now happened under Iger before he left.

They never should have paid what their paid for Fox and put themselves in so much debt.

They never should have had a blank check for all the Disney+ content.

The list goes on and on.

Iger is another evil wallstreeet business man who only cares for the bottom line.

Just another greedy corporate ahole who spouts all the nonsense he can to make himself sound good to his employees, when, at the end of the day, he'll just cut them without batting an eye.

You were doing so well until the last part.

A CEO is ethically and legally obligated to act in the best interest of the shareholders. That's his only job.

The argument against Iger, if you're going to make one, isn't "he only cares about the shareholders." It's "the things he's doing aren't in the best interest of the shareholders long-term."

 

[Sirwalterraleigh]

"The company" is not monolithic. When it rains in Orlando, they don't stock the shelves with extra umbrellas in Anaheim. One has nothing to do with the other. If anything, cost cutting in overhead areas and content production frees up cash flow to be used for investment in the parks.

Ok, snoop…

Read the “leaves”

Peltz does this stunt where sweeping changes have to be made - and a lot of them were and are still true - and drops it a minute later when they promise to slash payroll and promise a dividend?

Everyone has a price…and theirs is not high.

And what has happened since the charade? More box office tanks…Florida hosing them in public…labor difficulties all but acknowledged publicly…hell, even baby yoda is on a downward ark.

And where’s that “successor”?
The #1 thing that has to be done.

All of a sudden more money in the parks is the play? More sunk cost? More longterm overhead?

 

[ToTBellHop]

View attachment 706740

Who did Mickey love and kill to get the Pixar Stone?

 

[Sirwalterraleigh]

You were doing so well until the last part.

A CEO is ethically and legally obligated to act in the best interest of the shareholders. That's his only job.

The argument against Iger, if you're going to make one, isn't "he only cares about the shareholders." It's "the things he's doing aren't in the best interest of the shareholders long-term."

Shareholders don’t care…it’s the “quarterly culture”

And why Bob failed taking them into it.

 

[Sirwalterraleigh]

Who did Mickey love and kill to get the Pixar Stone?

…Zenia…of course

 

[CaptainAmerica]

Ok, snoop…

Read the “leaves”

Peltz does this stunt where sweeping changes have to be made - and a lot of them were and are still true - and drops it a minute later when they promise to slash payroll and promise a dividend?

Everyone has a price…and theirs is not high.

And what has happened since the charade? More box office tanks…Florida hosing them in public…labor difficulties all but acknowledged publicly…hell, even baby yoda is on a downward ark.

And where’s that “successor”?
The #1 thing that has to be done.

All of a sudden more money in the parks is the play? More sunk cost? More longterm overhead?

I prefaced that blurb with "if anything."

I think the most likely outcome for the parks (in terms of stuff guests will actually notice) is a whole lot of status quo.