Disney CEO Bob Chapek Plans Layoffs and Job Freeze according to Memo

Disney CEO Bob Chapek Plans Layoffs and Job Freeze according to Memo. CNBC has learned, one day after Disney Stock took a hit after the 4th Quarter Earnings Report came out, CNBC reports that a Memo that went out to Division Leaders Friday afternoon.

“We are limiting headcount additions through a targeted hiring freeze,” CEO Bob Chapek said in a memo to division leads sent Friday and obtained by CNBC. “Hiring for the small subset of the most critical, business-driving positions will continue, but all other roles are on hold. Your segment leaders and HR teams have more specific details on how this will apply to your teams.”

Disney CEO Bob Chapek Plans Layoffs and Job Freeze according to Memo

He added: “As we work through this evaluation process, we will look at every avenue of operations and labor to find savings, and we do anticipate some staff reductions as part of this review.” “I am fully aware this will be a difficult process for many of you and your teams,” Chapek wrote. “We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time.”

Disney has around 190,000 employees across all platforms. From Parks to Disney +, Espn, ABC, and many others. Disney will establish a cost structure task force to work through these decisions, headed by Chief Financial Officer Christine McCarthy

Bob Chapek Plans Layoffs

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