The Hollywood Cuts Keep Comin' As Disney Does Another Worker Cleanse [Forbes]
Paramount Global - Class A (PARAA)
Company Research
Source: Forbes
2025” is going to be difficult for many industry workers, Disney embarked this week on another 300 layoffs, on top of thousands of other reductions there and across the industry. This set of layoffs in the Burbank, Calif.-based Disney largely hit corporate workers in divisions such as legal, human resources, finance, and communications, Deadline reported. All told, CEO Bob Iger has targeted 8,000 jobs for elimination. Some 4,000 of those cuts landed in April of last year, but more keep coming. In May, Disney's Pixar laid off 175 workers amid a sustained box-office slump for the animation unit's films. Even the subsequent record-setting performance of Inside Out 2 this summer wasn't enough to fend off the Mouse House reaper. The Disney reductions, part of $7.5 billion in spending cuts that CEO Bob Iger instituted beginning late last year, haven't spared sports either, even though that sector has been the most watched and lucrative remaining corner of broadcast and cable. This w
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PARAA
Earnings
- 8/8/24 - Beat
PARAA
Sec Filings
- 8/27/24 - Form 4
- 8/27/24 - Form 425
- 8/27/24 - Form 8-K
- PARAA's page on the SEC website