{"id":29918,"date":"2023-02-08T23:07:27","date_gmt":"2023-02-09T04:07:27","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=29918"},"modified":"2023-02-08T23:07:34","modified_gmt":"2023-02-09T04:07:34","slug":"bob-iger-outlines-new-disney-org-structure-with-7000-layoffs-planned","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2023\/02\/08\/bob-iger-outlines-new-disney-org-structure-with-7000-layoffs-planned\/","title":{"rendered":"Bob Iger Outlines New Disney Org Structure With 7,000 Layoffs Planned"},"content":{"rendered":"\n
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With CEO Bob Iger back at the helm, the new organizational structure of The Walt Disney Co. is taking shape, with 7,000 layoffs planned.<\/p>\n\n\n\n

On Wednesday the executive outlined his plan to swiftly restructure the company, effectively dismantling the Disney Media and Entertainment Distribution group created by former CEO Bob Chapek in 2020.<\/p>\n\n\n\n

The new structure will have three divisions: Disney Entertainment, which will include the film and TV assets, as well as Disney+; ESPN, which will include ESPN and ESPN+; and Parks, Experiences and Products, which will include the theme parks and consumer products teams.<\/p>\n\n\n\n

Alan Bergman and Dana Walden will co-chair the Disney Entertainment division, with Jimmy Pitaro continuing to lead ESPN, and Josh D\u2019Amaro continuing to lead parks and experiences.<\/p>\n\n\n\n

On Disney\u2019s earnings call, Iger likened the changes he will pursue as akin to the ones he made in 2005 when he first became CEO, and in 2016, when Disney announced a shift to streaming, looking to Fox\u2019s entertainment assets to bolster its business, touting Fox\u2019s library and management team as key assets. <\/p>\n\n\n\n

\u201cOur new structure is aimed at returning greater authority to our creative leaders and making them accountable for how their content performs financially,\u201d Iger said. \u201cOur former structure severed that link and must be restored. Moving forward, our creative teams will determine what content we\u2019re making, how it is distributed and monetized and how it gets marketed.\u201d<\/p>\n\n\n\n

Disney plans to cut 7,000 jobs as part of its restructuring, which would represent a bit more than 3 percent of the company\u2019s global workforce. However, with theme park employees making up a significant portion of Disney employees (and with that division not seeing the same level of restructuring as other departments), the cuts are likely to be steeper in the entertainment and ESPN divisions. <\/p>\n\n\n\n

Disney CFO Christine McCarthy also said that the company is targeting $5.5 billion in cost savings, including $3 billion related to future content savings, with the remaining $2.5 billion from other costs like marketing, staffing or technology. <\/p>\n\n\n\n

In his first action after making a surprise return to the chief executive\u2019s desk in November, Iger ousted Chapek lieutenant and DMED chief Kareem Daniel. At the time Iger told staff that he had tasked a group of top executives that would create \u201ca new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs.\u201d<\/p>\n\n\n\n

\u201cWithout question, elements of DMED will remain, but I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses,\u201d he added.<\/p>\n\n\n\n

The new structure provides more detail for that vision, with Iger saying that it will put creativity at the core of the business, with each division leader overseeing their own P&L lines.<\/p>\n\n\n\n

The reorg plan comes as Disney delivers a critical earnings report, its first since Iger returned.<\/p>\n\n\n\n

Wall Street is looking to Iger to lay out a strategy for the company\u2019s larger streaming ambitions, and its plan to improve profitability. At the same time, Iger warned after he left the CEO chair that linear TV was nearing a precipice, but he now finds himself running a company with a pair of critical assets (ESPN and ABC) that are tightly aligned with the linear TV bundle, leaving some to wonder whether Disney would sell them, or milk their profits for as long as possible.<\/p>\n\n\n\n

And then there\u2019s Hulu, and whether Disney follows through on its deal to acquire Comcast\u2019s remaining stake, or seeks to offload that platform as well to focus on Disney+.<\/p>\n\n\n\n

And all of this is happening while Disney faces a proxy battle with the activist investor Nelson Peltz, who is seeking a seat on the company\u2019s board. Peltz, an investor and friend of Disney employee and fellow Palm Beach billionaire Ike Perlmutter, has taken aim at Iger and the board\u2019s deal making and failure to find a successor to Iger.<\/p>\n\n\n\n

Iger also teased that more installments are in the works for Toy Story, Frozen and Zootopia. On an earnings call Wednesday, Iger told investors these future films were an example of how \u201cwe are leaning into our unrivaled brands.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

With CEO Bob Iger back at the helm, the new organizational structure of The Walt Disney Co. is taking shape, with 7,000 layoffs planned. On Wednesday the executive outlined his plan to… <\/p>\n","protected":false},"author":1,"featured_media":29919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"dois","default_image_id":71799,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[17],"tags":[4493,4492],"class_list":["post-29918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional-and-world-news","tag-000-layoffs-planned","tag-bob-iger-outlines-new-disney-org-structure-with-7"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/29918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=29918"}],"version-history":[{"count":0,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/29918\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/29919"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=29918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=29918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=29918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}