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Disney earnings: Investors eye potential layoffs, | Sky Documentry
We're getting some headlines from the Disney investor call Cost cutting is the theme and you can see investors reacting to it with shares up more than eight percent Disney is looking to find 5.5 billion in cost savings and we'll be cutting 7 000 jobs to help do so CEO Bob Iger also announcing the company's going to restructure into three units and here's the key Disney entertainment ESPN and Disney Parks experiences and products Pros what's your reaction you know a lot to parse there right Dave you know so you hear about those cuts three billion coming from content alone but they're not touching sports right they're not touching Sports they're leaving that alone three loving seven thousand job layoffs it's hard it's hard to say that but it's true they do it's it is going to be a big cost driver for the company and and then also talking about ESPN now its own separate unit right so what does that mean for the company does it make it easier to maybe spin off is it easier to account for is it easier to kind of separate a sort of still growing or still sort of very valuable property for them so I think this sort of either putting a stamp on things right now and this is what he's doing if there are 220 000 employee worldwide head count so not a significant number to the likes of some of those we've seen in the tech sector in terms of a percentage so theoretically without hearing from Bob yet presumably these are high price probably some executives are going to roll here not the people that are that are dressing up as characters because they're gonna have to spend a lot on this labor agreement 96 percent of the employees turn down their recent proposal so they're going to have to really spend up on those employees I don't think ESPN's going anywhere I really do not Hulu is the big question will they buy out the remainder of it I'm gonna go yes what else do you think might happen today that's a big Point Rich Greenfield talking about how he might address that big Hulu question mark what's happened what's the future of that do they even need it when they have Disney plus right uh absolutely right about the parks business the the how we renegotiate sort of Labor contracts there it's a booming business they want to get that address they want to lock that down get those costs under control and potentially you know kind of have some forward see-through there where they can actually keep keep it kind of constant uh yeah ESPN this is the big debate right where is that going to go and I think you make a big point it's a valuable property maybe Disney wants to hang on to that and then you know kind of connect with ABC networks right so I think that's all part of the whole Genesis this whole part of the the the the the kind of uh all the parts coming together for Disney uh and we'll see what Bob Iger says later today good to have Parks when they're up 20 plus percent year over year.
Investors eye potential layoffs | Sky Documentry
well we'll be generally all around Disney's income coming
out this evening yet for a brief glance at what's in store from the report and
obviously from the income call we should invite in Yippee finance says Ali come
out a major one today over here yes Rochelle a major one and there's three
things specifically that I will be centered around sometime this evening number
one happens by and large generally speaking streaming procedure particularly
with regards to productivity plans and supporter direction I wouldn't be
shocked on the off chance that we saw Disney modify its direction for Disney in
addition to the organization recently said the stage would make money by
financial 2024 and that Disney in addition to would arrive at Worldwide
endorsers between 215 to 245 Million by 2024 yet since the accentuation has
plainly moved away from endorser development we could see an update there
number two I will be searching for additional declarations encompassing
cutbacks and rebuilding Disney has indicated that this is coming yet we haven't
seen any substantial subtleties Sway Iger uncovered during the municipal center
last month that he won't switch the employing freezes that were last carried
out by previous President Bounce chapek so we realize that Cost Cuts are coming
typically that is as cutbacks and afterward at long last number three I will be
centered around Bounce iger's general tone this is the primary profit report
that he will convey since venturing once again into that Chief position so what
he decides to address and all the more critically the way in which he decides
to address specific difficulties the organization has confronted that will be
Central for financial backers and simply an update that we will plunge further
into this profit report on or after the call unique sometime this evening
quickly following the outcomes you won't have any desire to miss it Brad Shauna
and myself will separate everything and as you referenced there's surely a ton
to examine for sure Ali do you believe he will address on the extremist
financial backer point too or do you think he'll kind of will you might he at
any point stand to not discuss it will financial backers be searching for that I
don't believe he will straightforwardly address it except if he is gotten some
information about it and it's very conceivable that on the call one of the
experts could pose an inquiry about it yet I think right presently Sway Iger
kind of sees this as an interruption and there are different things that he
actually needs to jump into other main pressing concerns for the organization
and again I'm returning to that general streaming technique right what is the
arrangement for Disney what is the center we have reports that they possibly
need to permit content that is just fine yet what's the significance here for
their foundation like Disney In addition to Hulu and ESPN in addition to so I
believe that will be the most ideal concentration for him he will attempt to
stay away from the Nelson Peltz battle in the event that you can effectively do
that we will see again it could come up on the call yet I truly do think by the
day's end there are different things that financial backers truly need to get a
more clear picture on to be sure extraordinary stuff we'll be anticipating that
later on tonight Ali Channel thank you for that update
