DIRS.INFO The most relevant business & tech news

It will not work,” said Martin Garcia, chairman of the DeSantis-picked Central Florida Tourism Oversight District board of supervisors. Wednesday’s moves are the latest escalation in the fight between DeSantis and Disney as DeSantis moves toward a 2024 presidential bid. Disney responded by suing DeSantis, the board and Florida Department of Economic Opportunity acting secretary Meredith Ivey, seeking to block the board’s moves. But the special district also freed Disney from bureaucratic red tape and made it cheaper to borrow to finance infrastructure projects around its theme parks, among other significant advantages. DeSantis then targeted Disney’s special governing powers.

☆ Disney begins second, larger round of layoffs, bringing total to 4,000 jobs cut
▼ + stars: | 2023-04-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Disney began its second, larger wave of layoffs Monday, bringing total job cuts in recent weeks to 4,000 when the latest round is completed. Earlier this year, Disney said it would slash 7,000 jobs from its workforce as part of a larger reorganization of the company that will see it cut costs by $5.5 billion. Disney notified employees of a first wave of layoffs on March 27, which saw cuts in its metaverse strategies unit and part of its Beijing office. The second round, which will be completed Thursday, will affect various divisions across the company, including Disney Entertainment and ESPN, as well as Disney Parks, Experiences and Products. Disney has previously said it doesn't expect layoffs to affect its hourly workers at its parks and resorts.

☆ Walt Disney Co to begin second wave of layoffs, cutting several thousand jobs - sources
▼ + stars: | 2023-04-24 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +2 min

April 24 (Reuters) - Walt Disney Co (DIS.N) will begin a second wave of layoffs on Monday involving thousands of jobs, as part of efforts to eliminate 7,000 positions and save $5.5 billion in costs, according to sources familiar with the matter. The company will cut "several thousand" jobs through Thursday, with the latest round of reductions bringing the total number of jobs culled to 4,000, Disney officials say. The cuts will occur across the company's business segments, including Disney Entertainment, ESPN and Disney Parks, Experiences and Products, according to the sources, but are not expected to affect hourly frontline workers employed at the parks and resorts. Disney announced its layoff plan in February, together with a reorganization that returned decision-making to its creative executives. On March 27, Disney began notifying employees affected by the workforce reductions, and said a second, larger round would follow in April.

☆ Disney begins largest wave of layoffs, targeting thousands at ESPN, Parks, and other divisions
▼ + stars: | 2023-04-24 | by ( Jon Passantino | ) edition.cnn.com time to read: +2 min

The company had suspended its dividend payments during the pandemic, but Iger announced in February that he expects them to return. The cuts this week are expected to take place Monday through Thursday, affecting employees from coast to coast, Disney said. The layoffs, however, are not expected to affect hourly frontline employees at Disney’s theme parks and resorts. A third and final wave of layoffs to reach the 7,000 total is expected before the beginning of summer, the company said. Disney had about 220,000 workers as of October 1, of which approximately 166,000 were employed in the United States.

☆ Disney and DeSantis have been in a yearlong feud that began after the company spoke out against a controversial bill. Here's a timeline of the events.
▼ + stars: | 2023-04-21 | by ( Lloyd Lee | Chris Panella | ) www.businessinsider.com time to read: +12 min

After a yearlong feud, Disney sued DeSantis on Wednesday, alleging that the Florida governor tried to "weaponize government power" over the company. The state Board of Education voted on Wednesday to expand that law to cover grades four to 12. Under the leadership of Governor DeSantis, our state has seen record growth in jobs, GDP, and net domestic in-migration. It was the first time the board met since the revelation of the agreement between the prior district board members and Disney. On April 19, the state board approved a ban on classroom discussion of sexual orientation and gender identity for all grades, including grades four through 12.

☆ Walt Disney Co begins 7,000 layoffs
▼ + stars: | 2023-03-27 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

LOS ANGELES, March 27(Reuters) - Walt Disney Co (DIS.N) on Monday began 7,000 layoffs announced earlier this year, as it seeks to control costs and create a more "streamlined" business, according to a letter Chief Executive Bob Iger sent to employees and seen by Reuters. Several major divisions of the company - Disney Entertainment, Disney Parks, Experiences and Products, and corporate - will be impacted, according to a person familiar with the matter. Iger said Disney would begin notifying the first group of employees who are impacted by the workforce reductions over the next four days. Josh D’Amaro, chair of Disney Parks, Experiences and Products, sent a memo to theme parks employees in February warning that the profitable division would experience cuts. Officials for two of the unions representing cast members at Walt Disney World Resorts in Orlando, Florida, said “guest-facing” services were not expected to be affected by the layoffs.

☆ Disney's famous Dole Whip is no longer limited to theme parks as the pineapple treat heads to grocery stores
▼ + stars: | 2023-03-08 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

The Dole Whip soft-serve cup is an iconic treat made famous by Disneyland and Walt Disney World. Dole Packaged Foods said it is making its Dole Whip treat available nationwide in grocery stores. Dole Packaged Foods, the maker of the iconic Dole Whip, announced plans on March 3 to make the frozen treat available in supermarkets nationwide. Disneyland makes various versions of the Dole Whip treat. The food stand sells the original treats – Dole Whip and the Dole Whip Float – and several new concoctions, such as the Strawberry Dole Whip Sundae and a Chile-Mango Whip.

☆ DeSantis' hand-picked Walt Disney World oversight board meets for the first time
▼ + stars: | 2023-03-08 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

REUTERS/Octavio JonesMarch 8 (Reuters) - A new board controlling Walt Disney World's special taxing district in Florida will meet for the first time on Wednesday, as Governor Ron DeSantis' hand-picked group gets ready to end the entertainment giant's "corporate kingdom." Nothing in the language of the legislation creating the Central Florida Tourism Oversight District gives the board of supervisors authority to direct Walt Disney Co's (DIS.N) content. "The District board members are now in place and will be examining all of the needed actions to get back on track," Bryan Griffin, a spokesman for the governor, said on Tuesday. Legislators in Florida passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. “Shameful to see Disney continue to use children as pawns to advance their WOKE political agenda,” Ziegler tweeted.

New York CNN —Disneyland has removed the “zip-a-dee-doo-dah” lyric played during its park parades because it comes from a movie that has been criticized for racist portrayals of Black Americans. The lyric initially appeared in the “Magic Happens” parade when it debuted in March 2020. The song “Zip-a-dee-doo-dah” originated in the 1946 film “Song of the South” that has long been criticized for stereotypes of “spiritual” Black men and its seemingly nostalgic view of the antebellum South. Disneyland officials told the OC Register in 2020 that the removal of the “Zip-A-Dee-Doo-Dah” song from the theme park resort is part of a continuous process to deliver an environment that features stories that are relevant and inclusive. “Song of the South” is so controversial that Disney has locked it away for decades and even kept it off the extensive library of Disney+.

☆ Fact Check-Disney will not replace Mickey Mouse as its official mascot, contrary to online claims
▼ + stars: | 2023-02-22 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Its “about us” page partly reads as follows: “Mouse Trap News is the world’s best satire site. Mouse Trap News also posted these claims on TikTok (bit.ly/3Zerios), Instagram (bit.ly/3XNpIbW), Twitter (bit.ly/3ZgkSFp) and Facebook (bit.ly/3Sm54hT). Several media outlets (here), (here), (here) have reported that Steamboat Willie, the short film that introduced Mickey Mouse in 1928, will enter the public domain in 2024. Additionally, Disney has not made a statement about replacing Mickey Mouse (thewaltdisneycompany.com/news/). Claims that Disney will replace Mickey Mouse as its official mascot stem from a satire website.

Disney CEO Bob Iger announced a new business structure Wednesday and further details emerged Thursday. ESPN and ESPN+ will form a separate unit, led by Jimmy Pitaro. Hollywood is already busy sharing memes about Bergman and Walden and how they will share and compete for power. As part of the cuts, Iger has directed his reports to lay off 7,000 staffers. A Thursday morning press release outlined all the shared services units that will now come under Bergman, Walden, and Pitaro.

☆ Bob Iger's Disney revamp could keep critic Peltz 'at bay'
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - Walt Disney Co (DIS.N) CEO Bob Iger dazzled Wall Street on Wednesday with sweeping changes and billions of dollars in cost cuts, and some analysts are convinced that will be enough to sway its harshest critic - activist investor Nelson Peltz. Under the restructuring, Disney is cutting 7,000 jobs and reorganizing into three divisions - an entertainment unit encompassing film, television and streaming, a sports-focused ESPN unit and one with Disney parks, experiences and products. "Iger's early steps seem likely to keep Peltz at bay, which the company dearly wants. Peltz could have an opening if Disney slips up," said Barton Crockett, analyst at Rosenblatt Securities. "We are pleased that Disney is listening," a Trian spokesperson said.

"This reorganization will result in a more cost-effective, coordinated approach to our operations," Iger told analysts on a conference call. Disney earlier reported its first quarterly decrease in subscriptions for its Disney+ streaming media unit, which lost more than $1 billion. Iger also repositioned the company to capitalize on the streaming revolution, acquiring 21st Century Fox's film and television assets in 2019 and launching the Disney+ streaming service that fall. Now, Iger will seek to put Disney's streaming business on a path to growth and profitability. It reorganized its business in 2018 to accelerate the growth of its streaming business, and again in 2020, to further spur streaming's growth.

Iger said he would reorganize the company into three segments: an entertainment unit that encompasses film, television and streaming; a sports-focused ESPN unit; and Disney parks, experiences and products. "This reorganization will result in a more cost-effective, coordinated approach to our operations," Iger told analysts on a conference call. Disney earlier reported its first quarterly decrease in subscriptions for its Disney+ streaming media unit which lost more than $1 billion. Now, Iger will seek to put Disney's streaming business on a path to growth and profitability. It reorganized its business in 2018 to accelerate the growth of its streaming business, and again in 2020, to further spur streaming's growth.

☆ Morgan Stanley says Disney can surge 35% as a strong consumer drives park revenue
▼ + stars: | 2023-02-06 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Shares for Disney could see big gains going forward, according to Morgan Stanley. He also noted that his bull case scenario is now in play after the stock's hot start to 2023. "After a 25% appreciation in shares YTD, we focus on the bull case from here: In our view, the recent appreciation in shares reflects two recent shifts in sentiment. Morgan Stanley has a bull case price target of $150 per share on Disney, which implies upside of 36.1% from Friday's close. Disney shares were down nearly 1% during the premarket Monday.

☆ My family of 4 spent $600 a night at Disney's Beach Club Resort, and it's one of our favorite hotels
▼ + stars: | 2023-01-28 | by ( Kari Becker | ) www.businessinsider.com time to read: +8 min

My family of four stayed in a club-level suite at Disney's Beach Club Resort for $600. Themed after a New England-style beach resort, it's located in the Epcot area around Crescent Lake, our favorite resort area to stay in. Here's a look at our recent stay in a club-level suite and why Beach Club has become a top pick for my family. Beach Club is a great resort for groups of all sizesWe'll definitely be returning to Beach Club. After this trip, it's fair to say that Beach Club is one of my family's favorite hotels.

I can often get Disney gift cards at a discountBuying gift cards at a discount means paying less for the gift card than the face value of the card. If you pay any amount less than $50 for a $50 gift card, then that's a discounted gift card. If I buy a $100 Disney gift card at Target each month, I'll have $1,200 after a year. However, if a customer does not have a Cash App Card, they can instead convert their gift card to cash in the app. While Costco doesn't sell Disney gift cards, they sometimes have Landry's gift cards, which can be used at the Rainforest Café and T-Rex Café at Disney World.

☆ Why America’s economy remains surprisingly strong – but you don’t realize it
▼ + stars: | 2022-12-22 | by ( Christine Romans | ) edition.cnn.com time to read: +2 min

New York CNN Business —Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience. Yes, the economy is strong. “The labor market is incredibly strong again,” Federal Reserve Chairman Jerome Powell in a speech last month. That means the next year will no question be a challenge as all that tightening continues to work its way through the economy.

☆ Reinstated Disney CEO Bob Iger spent months undermining his now-ousted successor Bob Chapek by keeping an office and criticizing his leadership, report says
▼ + stars: | 2022-12-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger spent months undermining his successor Bob Chapek, the Wall Street Journal reported. Disney's board dramatically reinstated Iger as CEO last month amid broader dissatisfaction with Chapek's leadership. Other execs were considering leaving if Chapek stayed in the CEO role, a senior figure at Disney told Insider, expressing frustration with his leadership and decision-making. He was criticized internally and by industry figures for making decisions without enough information, the Disney insider told Insider last month. Disney and Iger were not immediately available to respond to Insider's request for comment made outside of US working hours.

☆ A former Disney Imagineer started out carving iconic theme-park signs from wood. Now he's a craftsman making custom works of art for Disney fans that cost $50,000 and take 350 hours.
▼ + stars: | 2022-12-16 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +7 min

A recent commission of a "Beauty and the Beast"-themed mantel face measuring 6 feet by 14 inches took Kinman, by his estimate, around 350 hours from August to November. 2022 — 'Beauty and the Beast' mantel face (private collection)Kinman's 'Beauty and the Beast' mantel face was for a private collection in Oregon. The other side of the mantel face depicts the characters Mrs. Potts and Chip. Here he's carving a door out of mahogany. He's also excited about a carving he's been commissioned to do of Scrooge McDuck sitting in his money room.

☆ The ‘yes, but’ economy. Yes, we’re worried about recession — but the economy remains resilient
▼ + stars: | 2022-12-02 | by ( Christine Romans | ) edition.cnn.com time to read: +2 min

New York CNN Business —Each week brings head-scratching contradictory news about the economy. Tthis past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience. Yes, the economy is strong. Yes, economists are worried about a recession, but the job market is incredibly tight with more than 10 million open jobs and 1.7 jobs available for anyone who’s searching for one (or looking to job hop). That means the next year will no question be a challenge as all that tightening continues to work its way through the economy.

☆ Top tips for saving money at Disney parks while traveling with a family on a budget
▼ + stars: | 2022-11-27 | by ( Gabrielle Reeder | ) www.businessinsider.com time to read: +8 min

For non-Florida residents who want to visit Disney World, purchasing a vacation package is cost-effective, travel agent Shannon Devine told Insider. For non-Florida residents, purchasing a Disney World vacation package is cost-effective, Shannon Devine, an independent travel agent with Academy Travel who specializes in planning Disney family vacations told Insider. A view of Disney's Grand Floridian Resort main entrance at Walt Disney World. Disney Tsum Tsums or smaller stuffed animals are at Walmart or Target for a fraction of Disney parks' costs. For an estimate of Disney trip costs, visit the Disney World Coast Calculator.

Bob Iger's return as Disney's CEO was met with surprise and relief by current and former employees. News of Bob Iger's return as Disney's CEO shocked the media world, but for many inside the company, the news touched off a mix of surprise as well as relief. Insider spoke with eight current and recently departed Disney employees about their reactions, hopes, and concerns for what's next. And there's still worry about where cuts will hit and how deep, and what's in store for Disney's streaming business. "Iger still has all the problems Chapek had — the company is bleeding money," said the first Disney insider.

[1/3] FILEPHOTO: Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. In his 15 years as Disney chief executive, Iger postponed his retirement four times, sidelining would-be successors. read more Part of his mandate, according to Disney, is to work with the board to develop a successor to lead the company. Chapek was among a shortlist of internal candidates vying for Iger's job, according to a source familiar with discussions. Another seen as a top contender was Kevin Mayer, Disney's longtime head of strategic planning who had shepherded the successful launch of Disney+, according to sources.

Bob Iger's return as Disney's CEO was met with surprise and relief by current and former employees. News of Bob Iger's return as Disney's CEO shocked the media world, but for many inside the company, the news touched off a mix of surprise as well as relief. Insider spoke with eight current and recently departed Disney employees about their reactions, hopes, and concerns for what's next. One theme park designer and former Disney employee, Taylor A. Baird, said he "almost cried" upon hearing about Iger's return because of his past success running the company. And there's still worry about where cuts will hit and how deep, and what's in store for Disney's streaming business.

Search resuls for: "Disney Parks"

25 mentions found