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

HauntedPirate

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

Thanks.

$1+billion in labor from 7000 jobs? Has to be more to the story there than a hiring freeze and not filling some job req's.

Marketing needs a total revamp, maybe this will be the kick in the pants needed for that.

Technology procurement... so no new stuff on the back-end, and likely moving things to a cloud provider.
 

ToTBellHop

Well-Known Member
Thanks.

$1+billion in labor from 7000 jobs? Has to be more to the story there than a hiring freeze and not filling some job req's.

Marketing needs a total revamp, maybe this will be the kick in the pants needed for that.

Technology procurement... so no new stuff on the back-end, and likely moving things to a cloud provider.
Jungle Cruise skippers make $145k/year, so this checks out.
 

co10064

Well-Known Member
Premium Member
It's sad news, but I can't say I'm surprised. I think the mainstream media and the general public have been acting like "everything's fine," when in reality, we're in a slow rolling recession. It's just not as obvious because we didn't wake up one day to a completely tanked stock market.
 

co10064

Well-Known Member
Premium Member
Am I reading this incorrectly, or is ESPN now lumped with Parks?

I suppose they're trying to cover for its losses but this can't be good for creative output.

Not a great day to be a Disney Parks fan.
 

Lilofan

Well-Known Member
It's sad news, but I can't say I'm surprised. I think the mainstream media and the general public have been acting like "everything's fine," when in reality, we're in a slow rolling recession. It's just not as obvious because we didn't wake up one day to a completely tanked stock market.
I've been through and survived layoffs. When you get invited to an HR meeting or your manager watches you clear out your office and security walks you out the door and you can't even say goodbye to your peers, it all sucks.
 

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