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Report: Disney planning hiring freeze, layoffs after stock plummets to 52-week low
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Leroy N. Soetoro
Nov 13, 2022, 5:16:30 PM11/13/22
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https://www.wfla.com/news/florida/report-disney-planning-hiring-freeze-
layoffs-after-stock-plummets-to-52-week-low/
TAMPA, Fla. (WFLA) — The Walt Disney Company is planning on implementing a
hiring freeze and laying off some of its 190,000 employees, according to
an internal memo obtained by CNBC.
CEO Bob Chapek sent the memo to Disney executives on Friday after the
company’s stock plummeted to a 52-week low earlier this week. Chief
Financial Officer Christine McCarthy hinted at cost-cutting measures in a
quarterly earnings call on Tuesday.
“We are limiting headcount additions through a targeted hiring freeze,”
Chapek wrote in the memo. “Hiring for the small subset of the most
critical, business-driving positions will continue, but all other roles
are on hold.”
Disney will implement a “cost structure taskforce”, Chapek said. The
taskforce will include McCarthy and General Counsel Horacio Gutierrez.
Chapek also said the company is expecting to lay off some workers.
“As we work through this evaluation process, we will look at every avenue
of operations and labor to find savings, and we do anticipate some staff
reductions as part of this review,” Chapek wrote.
At the beginning of the memo, Chapek said making Disney+ profitable is an
“important goal”. CNBC reported that Disney’s streaming services
(including Hulu and ESPN+) lost $1.47 billion last quarter, more than
double the loss from the previous year.
‘We have lost the plot’: A doc from the Disney family takes aim at the
Mouse House
CNBC said McCarthy promised during the earnings call that losses will
improve in next year, while Chapek has claimed streaming will be
profitable by the end of 2024.
“I am fully aware this will be a difficult process for many of you and
your teams. We are going to have to make tough and uncomfortable
decisions. But that is just what leadership requires, and I thank you in
advance for stepping up during this important time,” Chapek told
executives.
--
"LOCKDOWN", left-wing COVID fearmongering. 95% of COVID infections
recover with no after effects.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Officially made Nancy Pelosi a two-time impeachment loser.
Donald J. Trump, cheated out of a second term by fraudulent "mail-in"
ballots. Report voter fraud: sf.n...@mail.house.gov
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.
layoffs-after-stock-plummets-to-52-week-low/
TAMPA, Fla. (WFLA) — The Walt Disney Company is planning on implementing a
hiring freeze and laying off some of its 190,000 employees, according to
an internal memo obtained by CNBC.
CEO Bob Chapek sent the memo to Disney executives on Friday after the
company’s stock plummeted to a 52-week low earlier this week. Chief
Financial Officer Christine McCarthy hinted at cost-cutting measures in a
quarterly earnings call on Tuesday.
“We are limiting headcount additions through a targeted hiring freeze,”
Chapek wrote in the memo. “Hiring for the small subset of the most
critical, business-driving positions will continue, but all other roles
are on hold.”
Disney will implement a “cost structure taskforce”, Chapek said. The
taskforce will include McCarthy and General Counsel Horacio Gutierrez.
Chapek also said the company is expecting to lay off some workers.
“As we work through this evaluation process, we will look at every avenue
of operations and labor to find savings, and we do anticipate some staff
reductions as part of this review,” Chapek wrote.
At the beginning of the memo, Chapek said making Disney+ profitable is an
“important goal”. CNBC reported that Disney’s streaming services
(including Hulu and ESPN+) lost $1.47 billion last quarter, more than
double the loss from the previous year.
‘We have lost the plot’: A doc from the Disney family takes aim at the
Mouse House
CNBC said McCarthy promised during the earnings call that losses will
improve in next year, while Chapek has claimed streaming will be
profitable by the end of 2024.
“I am fully aware this will be a difficult process for many of you and
your teams. We are going to have to make tough and uncomfortable
decisions. But that is just what leadership requires, and I thank you in
advance for stepping up during this important time,” Chapek told
executives.
--
"LOCKDOWN", left-wing COVID fearmongering. 95% of COVID infections
recover with no after effects.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Officially made Nancy Pelosi a two-time impeachment loser.
Donald J. Trump, cheated out of a second term by fraudulent "mail-in"
ballots. Report voter fraud: sf.n...@mail.house.gov
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.
BeamMeUpScotty
Nov 14, 2022, 7:37:04 AM11/14/22
to
management, and then clean house at the top... Where the super Child
Predators are hiding.
--
-That's karma-
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