{"id":509100,"date":"2022-11-12T01:14:28","date_gmt":"2022-11-11T22:14:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/disney-plans-targeted-hiring-freeze-staff-reductions-and-cost-structure-taskforce\/"},"modified":"2022-11-12T01:14:28","modified_gmt":"2022-11-11T22:14:28","slug":"disney-plans-targeted-hiring-freeze-staff-reductions-and-cost-structure-taskforce","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/disney-plans-targeted-hiring-freeze-staff-reductions-and-cost-structure-taskforce\/","title":{"rendered":"#Disney Plans Targeted Hiring Freeze, Staff Reductions and \u201cCost Structure Taskforce\u201d"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2fcd0bc1218\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2fcd0bc1218\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/disney-plans-targeted-hiring-freeze-staff-reductions-and-cost-structure-taskforce\/#Disney_Plans_Targeted_Hiring_Freeze_Staff_Reductions_and_%E2%80%9CCost_Structure_Taskforce%E2%80%9D\" >Disney Plans Targeted Hiring Freeze, Staff Reductions and \u201cCost Structure Taskforce\u201d<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Disney_Plans_Targeted_Hiring_Freeze_Staff_Reductions_and_%E2%80%9CCost_Structure_Taskforce%E2%80%9D\"><\/span>Disney Plans Targeted Hiring Freeze, Staff Reductions and \u201cCost Structure Taskforce\u201d<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The Walt Disney Co. is looking to cut costs.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    In a memo to senior executives Friday afternoon obtained by <em>The Hollywood Reporter<\/em>, Disney CEO Bob Chapek outlined new efforts to save on expenses, including a targeted hiring freeze, likely staff reductions, a \u201ccost structure taskforce\u201d and a \u201crigorous review of the company\u2019s content and marketing spending.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Chapek\u2019s memo comes as Disney, like all major <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>, entertainment and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> players, look to slim down or otherwise save cash amid a difficult macroeconomic environment, with advertising hit particularly hard.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    On the company\u2019s fiscal Q4 earnings call earlier this week, Disney CFO Christine McCarthy told analysts that \u201cwe are actively evaluating our cost base currently, and we are looking for meaningful efficiencies\u201d when asked about cost-cutting efforts. Chapek\u2019s memo builds off of that with more specificity.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    For starters, Chapek, McCarthy and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> counsel Horacio Gutierrez will make up the company\u2019s cost structure taskforce, which \u201cwill make the critical big picture decisions necessary to achieve our objectives,\u201d per Chapek.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cThe taskforce will drive this work in partnership with segment teams to achieve both savings and organizational enhancements,\u201d he added. \u201cAs 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.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    In the meantime, Disney is implementing a targeted hiring freeze, with only business critical roles being filled, and business <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> is being restricted to \u201cessential\u201d travel only.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cI am fully aware this will be a difficult process for many of you and your teams,\u201d Chapek wrote. \u201cWe 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.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    On the content side, Chapek signaled that the company is going to be more selective about where it invests its cash.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cWhile we will not sacrifice quality or the strength of our unrivaled synergy machine, we must ensure our investments are both efficient and come with tangible benefits to both audiences and the company,\u201d he wrote.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The memo from Chapek comes amid a tumultuous time for media, with every major player in the space looking to cut costs. NBCUniversal has offered early retirement packages to long-serving employees, while Warner Bros. Discovery has been undergoing cuts in its various divisions ever since Discovery merged with WarnerMedia in the spring.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Executives at Paramount have also signaled that cost-cutting efforts are coming, with some anticipated to h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en before the end of the year.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Chapek\u2019s full memo is below.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>Disney Leaders-<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>As we begin fiscal 2023, I want to communicate with you directly about the cost management efforts Christine McCarthy and I referenced on this week\u2019s earnings call. These efforts will help us to both achieve the important goal of reaching profitability for Disney+ in fiscal 2024 and make us a more efficient and nimble company overall. This work is occurring against a backdrop of economic uncertainty that all companies and our industry are contending with.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>While certain macroeconomic factors are out of our control, meeting these goals requires all of us to continue doing our part to manage the things we can control\u2014most notably, our costs. You all will have critical roles to play in this effort, and as senior leaders, I know you will get it done.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>To be clear, I am confident in our ability to reach the targets we have set, and in this management team to get us there.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>To help guide us on this journey, I have established a cost structure taskforce of executive officers: our CFO, Christine McCarthy and General Counsel, Horacio Gutierrez. Along with me, this team will make the critical big picture decisions necessary to achieve our objectives.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>We are not starting this work from scratch and have already set several next steps\u2014which I wanted you to hear about directly from me.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>First, we have undertaken a rigorous review of the company\u2019s content and marketing spending working with our content leaders and their teams. While we will not sacrifice quality or the strength of our unrivaled synergy machine, we must ensure our investments are both efficient and come with tangible benefits to both audiences and the company.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>Second, we are limiting headcount additions through a targeted hiring freeze. 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.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>Third, we are reviewing our SG&amp;A costs and have determined that there is room for improved efficiency\u2014as well as an opportunity to transform the organization to be more nimble. The taskforce will drive this work in partnership with segment teams to achieve both savings and organizational enhancements. 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. In the immediate term, business travel should now be limited to essential trips only. In-person work sessions or offsites requiring travel will need advance approval and review from a member of your executive team (i.e., direct report of the segment chairman or corporate executive officer). As much as possible, these meetings should be conducted virtually. Attendance at conferences and other external events will also be restricted and require approvals from a member of your executive team.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>Our transformation is designed to ensure we thrive not just today, but well into the future\u2014and you will hear more from our taskforce in the weeks and months ahead.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>I am fully aware this will be a difficult process for many of you and your teams. 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. Our company has weathered many challenges during our 100-year history, and I have no doubt we will achieve our goals and create a more nimble company better suited to the environment of tomorrow.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>Thank you again for your leadership.<\/em>\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>-Bob<\/em>\u00a0<\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/social-media\/\" target=\"_blank\" rel=\"noopener\">Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/disney-hiring-freeze-staff-reductions-cost-1235260531\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Disney Plans Targeted Hiring Freeze, Staff Reductions and \u201cCost Structure Taskforce\u201d The Walt Disney Co. is looking to cut costs. In a memo to senior executives Friday afternoon obtained by The Hollywood Reporter, Disney CEO Bob Chapek outlined new efforts to save on expenses, including a targeted hiring freeze, likely staff reductions, a \u201ccost structure&#8230;<\/p>\n","protected":false},"author":1,"featured_media":509101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.hollywoodreporter.com\/wp-content\/uploads\/2022\/08\/HollywoodLandmarks244287Finals-H-2022.jpg?w=1024","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-509100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=509100"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/509101"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=509100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=509100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=509100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}