Bob Iger returned to Disney to save the soul of the company, and decided to indulge in radical decisions – in order to reduce costs, 7,000 jobs will fall under the distribution. This is 3.2% of the total workforce – as of October 1, 2022, Disney employed approximately 220,000 people worldwide. This and a number of other moves will allow the media conclamerate to save $ 5.5 billion.
Eiger’s parting words to those left without work will not rust.
I have great respect and appreciation for the dedication of our employees around the world.
Disney CFO Christine McCarthy told analysts that over the next few years, Disney will cut spending on non-sports content, saving $3 billion annually. McCarthy added that of the $2.5 billion in non-content spending, approximately half goes to marketing, 30% to payroll, and 20% to technology, procurement, and other expenses.
In short, Disney enters savings mode and expects that everything is not in vain – they will know for sure by the end of 2024.
Previously, experts have criticized Disney’s deal to buy Fox, saying that this decision was made in order to get rid of a competitor.
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