The move by Nelson Peltz came a day after the company’s C.E.O., Bob Iger, announced a restructuring that will cut $5.5 billion in costs and eliminate roughly 7,000 jobs.
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Archives for February 2023
Bob Iger’s Turnaround Plan for Disney Takes Shape
Shares jumped after the Disney chief executive unveiled plans to revamp its streaming business, cut costs, and formulate a succession plan.
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With Traditional TV in Free Fall, Disney Looks to Cut Costs
In the company’s first earnings report since Bob Iger returned as C.E.O., it exceeded Wall Street’s expectations. But thousands of employees are expected to be laid off.
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‘There’s a new sheriff in town.’ House panel OKs remake of Disney’s Reedy Creek
The measure would replace Disney’s handpicked five-member board overseeing the district with a governor-appointed one.
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DeSantis gets the power to pick all Disney Reedy Creek board members under bill
Disney World’s Reedy Creek Improvement District would be renamed and its board members chosen by the governor under a bill filed Monday.
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Disney’s Iger Returns to Familiar Stage, but With Different Challenges
The company reports quarterly earnings on Wednesday, and Wall Street is expecting it to lay out a new streaming strategy and operating structure.
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The Week in Business: The Fed Slows Down
Jobs numbers soared far past analysts’ forecasts. Meta’s stock price surged. And Robert Iger faces a major test as Disney reports its first quarterly earnings since he returned as C.E.O.
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Disney World Workers Reject Contract Offer
Unions that represent about 32,000 full-time workers said the vote was overwhelmingly against the proposal, which would have raised pay by at least $1 an hour per year.
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DeSantis says bill is being written for state takeover of Disney’s Reedy Creek
Gov. Ron DeSantis said a bill was being prepared to give control of Disney’s Reedy Creek special district to the state, but gave few new details about what would be in it.
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