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

[CaptainAmerica]

It's a silly little inside joke of mine that keeps me entertained here in the TP2000 Command Center.

When Bob Chapek announced last November that he would lay off a bunch of people in Fiscal '23, a few folks here insisted that he didn't announce layoffs he merely announced "staff reductions", like not filling the vacant Secretary II position in the Payroll Department was going to be enough. But I think most of us could recognize that Bob Chapek was announcing thousands of upcoming layoffs six months ago...

Disney Plans Layoffs, “Rigorous Review” Of Spending & Hiring Freeze; “Tough & Uncomfortable Decisions” Coming, CEO Bob Chapek Tells Staff

Reeling from a roller coaster stock market and earnings misses, the Walt Disney Company is about to start cutting spending, costs, and staff, CEO Bob Chapek said today. “I am fully aware this will be a difficult process for many of you and your teams,” Chapek wrote to Disney executives this...

deadline.com

Well, at least Carol in Payroll won't be sad to learn she gets to keep her lunch fixings and her purse in the empty cubicle next door.

Accuracy matters.

Thousands of people are losing their jobs.

The 7,000 number includes people who are losing their jobs as well as the elimination of open headcount.

Neither of those facts negates the other.

 

[SamusAranX]

If they put a shovel into the ground TODAY…it opens in 2029.

He’s right here.

We know the Iger management philosophy. I just told you what would happen - hypothetically

No, no. Got it all wrong. Disney has never announced a new attraction that has been significantly delayed, altered, or cancelled. It just doesn’t happen at the most magical place on Earth

 

[Sirwalterraleigh]

No, no. Got it all wrong. Disney has never announced a new attraction that has been significantly delayed, altered, or cancelled. It just doesn’t happen at the most magical place on Earth

Blue ocean for the blue sky stuff

Iger is “little boy blue”

 

[Sirwalterraleigh]

I'm sure there's been at least a few white collar jobs based in Orlando that were cut. But any reports of hundreds of job cuts in TDO or Celebration? Or just a few dozen here and there in Florida?

There's been thousands of lost jobs in Glendale and Burbank now the past 60 days. So far, the thousands of firings seem to be in various TV and movie production divisions based in Burbank, or the merchandising and marketing teams based in Glendale.

I Googled "Disney job cuts Orlando" but didn't come up with anything from the local media there. Which tells me the staffing reductions have been minimal in TDO so far, and well below the federal threshold to file of less than 100 layoffs. A company has to file layoff notices with the US Dept. of Labor if they are firing more than 100 within a 60 day window. The only thing I found was this from two months ago, late March...

"Disney has not filed any Florida layoff notices, state records show. Federal law requires companies to give 60 days' notice of mass layoffs and plant closings."

Disney is cutting 7,000 jobs. Here are 5 things to know including what CEO Bob Iger is saying

A larger round of layoffs will come in April, with several thousand more staff reductions.

www.floridatoday.com

I’m guessing that Orlando has been light so far because of their stupidity in all things labor since 2020…

But I would expect real frontline reductions if the coming months are as light as they appear to be trending. They’ll lean into CP and cut full time staff.

The DFB newsletter this morning had “why you might see empty parks in Orlando this summer…” as it’s headline.

That’s shocking from a Disney promoting site such as that. They don’t get “ballsy” with that kinda thing unless it’s a lock

 

[CaptainAmerica]

Ugh a very close friend was impacted today.

 

[MisterPenguin]

When Bob Chapek announced last November that he would lay off a bunch of people in Fiscal '23, a few folks here insisted that he didn't announce layoffs he merely announced "staff reductions", like not filling the vacant Secretary II position in the Payroll Department was going to be enough. But I think most of us could recognize that Bob Chapek was announcing thousands of upcoming layoffs six months ago...

Did you notice that he did not, in fact, announce *lay offs*?

Did you notice that he did not, in fact, get around to laying off thousands of people?

Did you consider that, at the time, Chapek thought that a hiring freeze would have been sufficient to reduce payroll and expenses?

Did you notice that your victory dance is built on a pile of baseless assumptions and falsehoods?

 

[EagleScout610]

Of course I prepare for everything , I was an Eagle Scout after all.

Congratulations! What year? I'm Class of 2018

 

[Trauma]

Congratulations! What year? I'm Class of 2018

1994

 

[Andrew C]

1994

 

[Trauma]

Wow bad news for Disney gets censored here quick.

 

[wdwmagic]

Wow bad news for Disney gets censored here quick.

?

 

[TP2000]

Did you notice that he did not, in fact, announce *lay offs*?

Your argument is not with me, I'm just a casual reader of the daily news. Your argument is with the headline writers and reporters on the corporate finance beats at CNN, CNBC, Forbes, Barrons, ABC (Disney owned), CBS, FNC, Variety, Hollywood Reporter, Los Angeles Times, Wall Street Journal, etc.

Disney plans hiring freeze, layoffs and cost cuts, according to a memo from CEO Bob Chapek

"We are limiting headcount additions through a targeted hiring freeze," Disney CEO Bob Chapek said in a memo obtained by CNBC.

www.cnbc.com

Disney Details Plans for Cost Cuts, Layoffs and Hiring Freeze in Memo

Chief Executive Bob Chapek announced company-wide cost-cutting measures and told division leaders that layoffs are likely, according to an internal memo viewed by the Journal. The moves come days after Disney reported lackluster earnings.

www.wsj.com

Disney to Begin Layoffs, Targeted Hiring Freeze and Limiting Travel

Disney will begin enacting layoffs, implementing a targeted hiring freeze and limiting company travel as part of a sweep cost-cutting move announced to leadership Friday.

variety.com

Did you notice that he did not, in fact, get around to laying off thousands of people?

He announced the cuts in a memo on November 11th, 2022. Nine days later he was gone and replaced by Bob Iger on November 20th.

He barely had time to grow out his beard some more in those 9 days, let alone start laying off thousands of people.

Did you notice that your victory dance is built on a pile of baseless assumptions and falsehoods?

No dancing on this one. Thousands of Californians are losing their high-paying jobs in Burbank and Glendale. That's nothing but sad.

 

[asianway]

Your argument is not with me, I'm just a casual reader of the daily news. Your argument is with the headline writers and reporters on the corporate finance beats at CNN, CNBC, Forbes, Barrons, ABC (Disney owned), CBS, FNC, Variety, Hollywood Reporter, Los Angeles Times, Wall Street Journal, etc.

Disney plans hiring freeze, layoffs and cost cuts, according to a memo from CEO Bob Chapek

"We are limiting headcount additions through a targeted hiring freeze," Disney CEO Bob Chapek said in a memo obtained by CNBC.

www.cnbc.com

Disney Details Plans for Cost Cuts, Layoffs and Hiring Freeze in Memo

Chief Executive Bob Chapek announced company-wide cost-cutting measures and told division leaders that layoffs are likely, according to an internal memo viewed by the Journal. The moves come days after Disney reported lackluster earnings.

www.wsj.com

Disney to Begin Layoffs, Targeted Hiring Freeze and Limiting Travel

Disney will begin enacting layoffs, implementing a targeted hiring freeze and limiting company travel as part of a sweep cost-cutting move announced to leadership Friday.

variety.com

He announced the cuts in a memo on November 11th, 2022. Nine days later he was gone and replaced by Bob Iger on November 20th.

He barely had time to grow out his beard some more in those 9 days, let alone start laying off thousands of people.



No dancing on this one. Thousands of Californians are losing their high-paying jobs in Burbank and Glendale. That's nothing but sad.

I hadn’t seen any imagineering layoffs. Did I miss them?

 

[Trauma]

?

There was a thread deletion on a subject that I won’t mention, so the conversation doesn’t start up here.

You probably know what it was and have your reasons for the deletion.

 

[asianway]

There was a thread deletion on a subject that I won’t mention, so the conversation doesn’t start up here.

You probably know what it was and have your reasons for the deletion.

It was just stirring up trouble

 

[MisterPenguin]

Your argument is not with me, I'm just a casual reader of the daily news.

Read better.

 

[Trauma]

It was just stirring up trouble.

Sure but it’s part of the conversation.

It will be studied long after we are gone how the seemingly unstoppable Disney self destructed.

It’s fascinating to get to watch in real time.

 

[Andrew C]

Sure but it’s part of the conversation.

It will be studied long after we are gone how the seemingly unstoppable Disney self destructed.

It’s fascinating to get to watch in real time.

Disney's reputation is being negatively impacted by the dispute with Ron DeSantis according to new Axios Harris Poll

Disney's reputation is being negatively impacted by the dispute with Ron DeSantis according to new Axios Harris Poll

www.wdwmagic.com

 

[TP2000]

Read better.

Look, I don't like to brag, but I placed fairly high in a Spelling Bee in elementary school. I'm talking Top 5, and there were a dozen other kids on that stage!

I read all the articles just fine last November about Disney's looming layoffs of Californians, in that 10 day period between Chapek's announcement on November 11th and his sudden ouster on November 21st.

Disney plans hiring freeze, layoffs and cost cuts, according to a memo from CEO Bob Chapek

"We are limiting headcount additions through a targeted hiring freeze," Disney CEO Bob Chapek said in a memo obtained by CNBC.

www.cnbc.com

Disney Layoffs 2022: What to Know About DIS Job Cuts, Hiring Freeze

In a leaked internal memo, Disney CEO Bob Chapek disclosed that the company would soon enact hiring freezes and layoffs.

investorplace.com

 

[TP2000]

I hadn’t seen any imagineering layoffs. Did I miss them?

I haven't seen those either. The job cuts the past two months seem to have been made mostly on the Burbank Studio lot, and at Disney's white collar campus in Glendale just south of the WDI campus. Plus some corporate jobs based out of New York City or Stamford, CT (ESPN).

This third round of 2,500+ layoffs that is happening this week might involve some WDI jobs. Or it might stay focused on the Studios campus in Burbank and/or the big marketing and merchandising teams in the other Glendale campus.

I'm sure if WDI lays off folks this week, the fan community will know within a day or two.

The US Labor Board still hasn't released a statement on layoffs, via a WARN Act notice of more than 100 Disney employees for the state of Florida, so whatever layoffs may have happened inside TDO and Celebration were less than 100 people.

The thousands of jobs being cut are mostly in Southern California at Disney's various sites and campuses in LA County, not Florida.

https://reactwarn.floridajobs.org/WarnList/Records?year=2023