https://deadline.com/2023/03/disney-layoffs-coming-annual-shareholder-meeting-bob-iger-1235303513/
2 replies (most recent on top)
agreed, I don't Disney can sustain in park entertainment for long term. Sad, but true.
In addition, content quality and frequency has dropped significantly. Sad, but true.
Disney Chief Financial Officer Christine McCarthy, said these moves are expected to save $5.5 billion, partly by trimming $1.5 billion in operation costs and another $3 billion from reductions in non-sports content.
$3B in content cuts might temporarily boost the stock price but will not yield higher earnings. Disney is going to be stuck in a doom loop of laying off employees to please wall street, which only diminishes talent thus leads to diminishing returns.
Universal already smells blood in the water, but guys like Mr. Beast are going to be the real nail in the coffin for Disney.