Disney begins the second round of 7,000 planned job cuts — targeting ESPN, theme parks, entertainment, and more
These new cuts, however, will span far beyond the perceived missteps of Chapek, and show the depth of change needed at Disney to adapt to the reality of slowing streaming growth and a shaky economy.
"When [Iger] was last at the helm, money was practically free," Mike Bloxham, EVP global media and entertainment at consultants Magid,."He did very well for his company in that era. That time is now gone. Even if he wants to be the Bob Iger of old he can't be. If wants to succeed, he's got to retool the organization. That means he's got to cut costs. He's nasty Bob instead of nice Bob.
Disney said its first two rounds of layoffs will total 4,000, and that it expects the third round to be the final one.pulling together staff from Disney Entertainment and ESPN, Insider reported Friday.Sign up for notifications from Insider! Stay up to date with what you want to know.
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