Re: Report: Disney planning hiring freeze, layoffs after stock plummets to 52-week low

On 11/13/22 5:16 PM, Leroy N. Soetoro wrote:
> 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.
> 
> 
Get the management to fire the workers and then the CEO to fire the 
management, and then clean house at the top... Where the super Child 
Predators are hiding.

-- 
-That's karma-