The Walt Disney Company (DIS)
Pixar Laying Off 14% Of Its Workforce As Disney Aggressively Cuts Costs
Disney's Pixar Animation Studios will be cutting 14% of its workforce, multiple outlets reported Tuesday, in what is reportedly the biggest restructuring in its history as the animation studio's parent company works to cut annual spending by billions.
Pixar is laying off 14% of its workforce as Disney scales back content
Around 14% of Disney's Pixar Animation Studio's workforce, or around 175 employees, are being laid off.
Disney's Pixar cutting nearly 200 jobs, will focus exclusively on feature films, cut streaming series
Disney CEO Bob Iger has scaled back spending on original streaming content to lift Disney+ to profitability.
Pixar Animation to lay off about 14% of workforce
Pixar Animation Studios on Tuesday began laying off about 14% of its workforce as it scales back development of original streaming series, according to a source familiar with the development.
Pixar Reduces 14% Of Staff Due To Disney Content Spending Cuts – Update
UPDATE: The Pixar Animation Studios cuts we previously told you about months ago are now commencing, we hear. The number of those let go number around 175 or 14% of the staff. This is largely due to the scaling back of direct-to-consumer series.
Disney's Latest Unionization Cast Vote Could Signal Shifts in Operational Costs and Investor Outlook
Walt Disney Co DIS Disneyland cast members, who portray characters like Mickey and Minnie Mouse and perform in parades, voted to unionize with the Actors’ Equity Association, the union announced. This vote, supervised by the National Labor Relations Board, achieved a 79% majority, with 953 out of 1,211 cast members voting in favor. The union, representing over 51,000 professional actors and stage managers nationwide, sought to address issues such as safety, scheduling, fair wages, and other workplace benefits, as reported by the New York Times. Also Read: From Tesla To Toyota: UAW Launches Ambitious Campaign To Unionize Top Auto Players Kate Shindle, president of the union, referred to the successful vote as a dream come true for those who had worked to organize the union effort. This unionization, involving 1,700 workers at the Anaheim location, echoes a broader trend of organizing within the entertainment industry and large companies across the U.S., including over 11,000 screenwriters represented by the Writers Guild of America. The outcome of this vote, pending no challenges, will be certified by the regional director of the National Labor Relations Board within a week. The goal is to enhance the working conditions for employees and the experience for park visitors. Earlier in May, reports indicated Apple Inc’s AAPL unionized retail store in Towson, Maryland, and another store in Short Hills, New Jersey, were considering a potential strike over pay, benefits, and scheduling. Companies, including Starbucks Corp SBUX and Amazon.com Inc AMZN, have garnered attention for their unionization efforts to improve pay and compensation. Amazon doled over $3 million in 2023 on consultants to deter unionization versus $14.2 million in 2022 and $4.3 million in 2021. Walt Disney stock gained over 12% in the last 12 months. Investors can gain exposure to the stock via AdvisorShares Gerber Kawasaki ETF GK and Vanguard Communication Services ETF VOX. Price Action: DIS shares traded higher by 0.15% at $103.40 premarket at the last check on Monday. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo via Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Disneyland character and parade performers vote to join labor union
ANAHEIM, Calif. — Disneyland performers who help bring Mickey Mouse, Cinderella and other beloved characters to life at the Southern California resort chose to unionize following a three-day vote culminating on Saturday.
4 Stocks to Sell Before El Nino Batters Your Portfolio
Wildfires are raging in Western Canada right now. This is a huge reminder that weather has become much more unpredictable due to climate change.
Disney CEO Bob Iger Says Linear TV Can Be Managed In Decline With “Dramatically” Lower Content Spend
In July of 2023, recently returned Disney CEO Bob Iger shocked the media industry by indicating he might be open to divesting the company's declining linear assets. By last fall, he'd changed his mind, declaring them not for sale.
Disney Might Be Cooked This Time
Disney's acquisitions of brands like Marvel initially paid off but have seen diminishing returns as audience interest wanes.
The Dividend Investor's Playbook: 3 Stocks for Consistent Cash Flow in 2024
If you are looking for dividend stocks to buy, you're at the right place; research shows that companies regularly raising payouts, known as “dividend growers,” boast compound annual returns of about 11.7% from 1986 to 2016. Even companies paying dividends but not raising them earned an average of 9.9% per year.
