Notes from Neverland
Well-Known Member
Not defending Disney, but you probably can't read too far into any movement today given the market as whole dropping significantly so far today.
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News The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as CEO Through 2026
- Thread starter DCBaker
- Start date
TrainsOfDisney
Well-Known Member
Any details on this?
Nubs70
Well-Known Member
I believe it is a 2% labor haircut targeted at the linear side of DIS. Based on strategic direction, this is just a start.
Another site said 140 Entertainment cast were let go. If the numbers are dire when Iger reports quarterly to Wall Street that may just be the beginning.
Tha Realest
Well-Known Member
If you listen closely you can hear a bunch of the BBTM Phase II slides in the D23 presentation being changed to “Hidden”
TrainsOfDisney
Well-Known Member
From parks? All parks? Just DL? It’s like pulling teeth to get any details here haha
ABC, Disney Studios, National Geographic, / so far none in parks and resorts. Iger did report the company needed to save $7.5 billion
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Vegas Disney Fan
Well-Known Member
Did they let go their IT staff go also? We’ve been trying to add transportation for our January cruise and have been getting error messages for 2 days.
It’s funny how something like this would be unacceptable for even a tiny mom and pop store but with Disney it’s so common it’s just something we now expect.
It’s funny how something like this would be unacceptable for even a tiny mom and pop store but with Disney it’s so common it’s just something we now expect.
13% let go at NatGeo. I’ll try to find the source for that.
Nubs70
Well-Known Member
Sure you can read into it. DIS is falling faster than the market.
What caused the greater market sell-off? A bad jobs report. Another fact is the previous months and months of glorious jobs reports are continually be downgraded. Now come September's jobs reports includes a downgrade of today's bad jobs report, expect another drop in DIS.
Keep this up and DIS might actually get down to a reasonable P/E ratio.
Beacon Joe
Well-Known Member
I see Iger's still getting the company and shareholders to pay for his bizarre and cringeworthy NBA fantasies.
50% of the 140 cast laid off came from the Burbank offices.
2% layoff at Disney Entertainment Television and 13% at NatGeo:
finance.yahoo.com
The Bloomberg article is paywalled, but this is available before you hit the wall:
"The company is eliminating about 140 jobs, or about 2% of staff at Disney Entertainment Television, said the people, who asked not to be identified discussing nonpublic information. The cuts will fall hardest on networks like NatGeo and Freeform, which are scaling back their programming, as well as the company’s ABC stations."
Walt Disney to cut jobs in television unit, Bloomberg News reports
The Mouse House will cut about 140 positions, around 2% of staff at Disney Entertainment Television and about 13% of jobs at NatGeo, which is among the worst hit units, the report added. Walt Disney, which is set to report quarterly results next week, did not immediately respond to a Reuters...
The Bloomberg article is paywalled, but this is available before you hit the wall:
"The company is eliminating about 140 jobs, or about 2% of staff at Disney Entertainment Television, said the people, who asked not to be identified discussing nonpublic information. The cuts will fall hardest on networks like NatGeo and Freeform, which are scaling back their programming, as well as the company’s ABC stations."
To the tune of $2.6 billion per year for the next 11 years, on a league that isn't drawing more eyeballs.
Tha Realest
Well-Known Member
Sirwalterraleigh
Premium Member
Not unexpected but they took a whallop today…a little harsh
Sirwalterraleigh
Premium Member
Absolutely terrible decisions as usual. You’d assume more bad strategy
Feels like travel industry stocks got a beatdown today above and beyond what the rest of the market got.
Sirwalterraleigh
Premium Member
As they should…when the economy has a cold…travel has the flu
If one can't stomach dips rises and valleys in the markets then they should not be in it. Long-term investors buying into markets that are diversified ( that's key ) are doing just fine .