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☆ Disney plans to freeze hiring and cut jobs, memo shows
  + stars: | 2022-11-12 | by ( ) edition.cnn.com   time to read: +3 min
Disney (DIS) is planning to freeze hiring and cut some jobs as it strives to move the Disney (DIS)+ streaming service to profitability against a backdrop of economic uncertainty, according to a memo seen by Reuters on Friday. Chief Executive Bob Chapek sent the memo to Disney’s leaders, saying the company is instituting a targeted hiring freeze and anticipates “some small staff reductions” as it looks to manage costs. Disney has said the fast-growing service added 12 million subscribers in its fiscal fourth quarter but reported an operating loss of nearly $1.5 billion. The company said Disney+ would become profitable in fiscal 2024, with losses having peaked in the quarter. Meta said this week it would cut more than 11,000 jobs, or 13% of its workforce to rein in costs.
☆ Disney plans to freeze hiring and cut some jobs, memo shows
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +3 min
Nov 11 (Reuters) - Walt Disney Co (DIS.N) is planning to freeze hiring and cut some jobs as it strives to move the Disney+ streaming service to profitability against a backdrop of economic uncertainty, according to a memo seen by Reuters on Friday. Chief Executive Bob Chapek sent the memo to Disney's leaders, saying the company is instituting a targeted hiring freeze and anticipates "some small staff reductions" as it looks to manage costs. Disney has said the fast-growing service added 12 million subscribers in its fiscal fourth quarter but reported an operating loss of nearly $1.5 billion. The company said Disney+ would become profitable in fiscal 2024, with losses having peaked in the quarter. Meta Platforms (META.O) said this week it would cut more than 11,000 jobs, or 13% of its workforce to rein in costs.
☆ OpenWeb, Which Helps Publishers Target Readers With Ads, Raises $170 Million
  + stars: | 2022-10-27 | by ( Patrick Coffee | ) www.wsj.com   time to read: +3 min
Open Web Technologies Ltd., which helps publishers engage readers and target them with ads, raised $170 million in a Series F round led by Canadian venture firm Georgian Partners, the company said. The new round values OpenWeb at $1.5 billion, up from $1 billion in its previous round, according to the company. It later expanded its services to include live-blogging, polling and data-management tools, as well as the placement of ads across publishers’ sites. OpenWeb counts more than 1,000 publishers as clients, most of which are based in North America, Mr. Shoval said. The company also focuses on content-moderation services to help protect both publishers and readers from harassment, hate speech and offensive content.
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