Disney Staffers Brace for Layoffs Amid Planned Reorganization

[crazy4wdw]

From Variety:

04.04.13 | 05:32PM PT
Marc Graser
Senior Writer

Cuts expected after conclusion of company-wide review of operations

Employees at the Walt Disney Co. are bracing for layoffs that are expected in the coming weeks as part of a reorganization of key operations.

It is believed that the companys movie studio will be hardest hit, particularly in the areas of home entertainment, production and marketing, according to multiple sources familiar with matter.

More details: http://variety.com/2013/biz/news/di...offs-amid-planned-reorg-exclusive-1200333321/

 

[lockedoutlogic]

How magical...

 

[Tonka's Skipper]

From Variety:



More details: http://variety.com/2013/biz/news/di...offs-amid-planned-reorg-exclusive-1200333321/

This doesn't seem to be anything more then the usual shake out after a reorganization in the company and the buyout of Lucas etc.

Especially since they are advertising for new CM/s at least at WDW.

AKK

 

[eadavis]

Well, when you by a company like that, there will be redundancies in many positions... Why pay for two when you only need one?

 

[DRDISNEYMD]

~I agree -- the majority of lay-offs will come from Lucas Arts and the marketing & home video sector -- this is kind of expected, now that we can stream media content onto our TV's and other devices from a direct source like Amazon, Netflix, Hulu, etc. Consumer products and animation were also mentioned.

 

[Backstage_Gal]

Well, when you by a company like that, there will be redundancies in many positions... Why pay for two when you only need one?

True for that scenario, but they are also cutting staff at existing operations that have nothing to do with new acquisitions, IE: WDW Finance and other support areas.

 

[Peter Pirate 2]

From Variety:



More details: http://variety.com/2013/biz/news/di...offs-amid-planned-reorg-exclusive-1200333321/

Must be the magic band.

BTW, what was Iger's salary last year?

 

[crazy4wdw]

BTW, what was Iger's salary last year?

$40.2 million

 

[crazy4wdw]

Another article on the layoffs posted at the Orlando Sentinel:

http://www.orlandosentinel.com/the-...y-layoffs--exclusive-20130404,0,1409603.story

 

[cmash95]

I wouldn't worry about theme park divisions. They were reorganised a few years back. but there is a new president, so of course there will be some changes. These layoffs are mainly because they are shutting down lucas arts altogether as well as moving most of the operations to burbank, so they don't need the staff in san fransisco.

 

[lebeauc]

$40.2 million

Well, that was his Total compensation for the year. His base salary is a measly $2,500,000.

Iger’s total compensation included a base salary of $2.5 million and bonus of $16.5 million, as well as $9.5 million in stock awards, $7.8 million in option awards, $16.5 million in non-equity incentives, a $3.1 million change in pension value and $800,700 in other compenstation including security and personal air travel, according to Deadline.

Taken from: http://www.bizjournals.com/losangeles/news/2013/01/21/disneys-bob-iger-got-20-pay-raise.html

 

[mvk]

Well, that was his Total compensation for the year. His base salary is a measly $2,500,000.



Taken from: http://www.bizjournals.com/losangeles/news/2013/01/21/disneys-bob-iger-got-20-pay-raise.html

When you answer to only shareholders, a group of people that you've doubled their price per share in the past year, you tend to get compensated well.

 

[mm1971]

Disney, headquartered in Burbank, California, started an internal cost-cutting review late last year to identify cutbacks in jobs it no longer needs because of improvements in technology, one of the people said.

It is also looking at redundant operations that could be eliminated following a string of major acquisitions over the past few years, said the person.

This gives you a good idea where the cuts are going to be. They also said the consumer division cuts would be done via attrition. That mean not rehiring for positions when someone leaves. Sounds pretty common in business, especially given the circumstances.