Disney Job Cuts
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 28 March 2023
⏱️ 9 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Tuesday, March 28th, and I'm your host Julie Morgan. |
| 0:12.0 | Walt Disney's Bob Eiger told employees that it is launching a first round of announced |
| 0:17.3 | layoffs this week. |
| 0:18.9 | 7,000 workers in total will get pink slips. Binance and its CEO have been sued by the Commodities Futures Trading Commission. |
| 0:27.0 | The CFTC is looking into regulatory breaches. |
| 0:31.0 | Lyft has a new CEO. |
| 0:33.0 | Its two co-founders are taking a back seat moving into chair and co-chair roles of the company's |
| 0:39.4 | board. |
| 0:41.1 | Our top story. |
| 0:42.1 | Layoffs said Disney. |
| 0:44.0 | Disney joined the ranks of companies laying off significant numbers of employees in |
| 0:48.0 | 2023 on Monday as a memo from CEO Bob Eiger indicated that the first round of layoffs will be kicking off this week. |
| 0:55.0 | In total, the company plans to lay off about 7,000 employees and three rounds of layoffs, |
| 0:59.8 | with the largest of these being the second due to come in April. |
| 1:03.6 | The significant head count reduction is part of the company's overall efficiency push that it |
| 1:07.8 | forecasts in its February earnings call. |
| 1:10.0 | The company is targeting about $55 billion dollars in cost savings. |
| 1:14.2 | As Iger emphasizes a more streamlined approach to operations |
| 1:17.7 | amid a more challenging economic environment. |
| 1:19.6 | That was seeking Alpha, Associate News Editor Kevin Curran. |
| 1:23.2 | According to the Wall Street Journal, |
... |
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