... Insiders tell Deadline that multiple rounds of cuts are being prepared. The first one is being targeted for next week, we hear. (March 30 or March 31 have been floated as possible dates, but that has not been confirmed.) According to sources, there will be a big wave in late April, described as “the big one” or a “bloodbath,” when a large portion of the cuts are expected to come. ...
Following his promise to investors, Iger is determined to make a “statement” in the coming weeks, one insider says. ...
Virtually every part of the sprawling Entertainment division is expected to be impacted in a meaningful way. ...
Disney is far from alone in paring back. Media and tech companies have laid off thousands of workers during recent turbulent months, with spiking interest rates and foreign currency gyrations among the economic headwinds.
Investors initially cheered Iger’s revelation about streamlining, boosting shares, but the stock has fallen back in recent weeks. It closed Tuesday at $96.54 and has risen about 2% in 2023 to date. Even so,
shares now are not much higher than where they crash-landed in March 2020. That was
just after Iger passed the CEO baton to Bob Chapek and Covid was beginning to lay siege to almost all of Disney’s operations.