My spouse was at Disney after it acquired NatGeo and it let go of almost everyone. Google Disney layoffs and you will find the lawsuit when it forced US tech workers in Florida to train their H1B consulting firm replacements to obtain severance. That Disney incident ended up in Congressional hearings With Disney losing market share it most certainly will lay people off and is not a stranger to mass layoffs. You are better off at the PIP factory than Disney.
no; or ‘not yet’, hard to imagine any time soon ‘massive’ layoffs, at least in the streaming division.
Yes, layoffs are ongoing in some business segments.
Are new offers being rescinded?
No, not to my knowledge
Yes there were and yes in the streaming division as well as surrounding areas. Seems minor and very targeted though.
Yes and Bob Iger just sold 82% of his shares. Proceed with caution: https://insidethemagic.net/2024/02/disney-ceo-bob-iger-quietly-dumps-company-stock-before-billionaire-showdown-nk1/
Any news on layoffs or offer rescinded/ hiring freeze etc?
He most likely sold his shares bow because he's nearing the end of his contract. He could also be estimating that if he sells later it could be classified as insider trading because of knowledge about upcoming projects due to the timing of his actual retirement°2 date.
The UX research team (20 people) was just eliminated.
You guys don't need UX, your app runs on magic, no?
Is there a Hulu anymore to even lay people off from? I thought "Hulu" was just a few marketing folks at this point.
If the new board members get elected there will be SEVERE layoffs. They’ve said publicly that they want to restore shareholder returns so the quickest way to do that is to cut costs via layoffs. Wall Street LOVES when companies cut themselves so the stock price will soar. If the elections of the board in April end up with new members from all the antagonist factions then definitely start looking for a new job. Maybe you’ll be lucky and get severance at the same time as getting an offer from another company.
Yet we just had 2 returns to shareholders...
Uni14 and that group is still complaining about returns. Buybacks across the market have skyrocketed ever since legislation passed in the 80s, further widening the gap btwn the haves & have nots. Returns won’t be “enough” until the stock gets back to the almost $200 high point of a few years ago, which will be nearly impossible.
Because of sora?
Google