All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account “Our transformation is designed to ensure we thrive not just today, but well into the future,” Chapek wrote. Hiring will be limited to a small subset of critical positions, and some staff reductions are anticipated as the company looks to make itself more cost-efficient, Chapek wrote.Ĭhapek said business travel would be limited and trips would require advance approval, or conducted virtually as much as possible. The company already has begun looking at content and marketing spending, but Chapek said the cuts would not sacrifice quality. One of Disney’s studio peers, Warner Bros Discovery, has undergone dramatic cost-cutting efforts, including layoffs, as the recently merged company restructures its content operations.Ĭhapek said Disney has established a task force, including Chief Financial Officer Christine McCarthy and General Counsel Horacio Gutierrez, to help him make “critical big picture decisions.” Meta said this week it would cut more than 11,000 jobs, or 13% of its workforce to rein in costs. MoffettNathanson analyst Michael Nathanson observed in a note this week that “the company has to prove that their pivot to DTC will be worth the investment price that is currently being paid.”Ĭorporate America is making deep cuts to its employee base to brace for an economic downturn. Wall Street analysts voiced concern about Disney’s escalating streaming costs. The streaming service is known for original series including the “Star Wars” entries “The Mandalorian,” “Andor” and “Obi-Wan Kenobi,” the Marvel entries “WandaVision,” “Hawkeye” and “She-Hulk: Attorney at Law,” and content hubs for Disney, Pixar, Marvel and “Star Wars” films. The company said Disney+ would become profitable in fiscal 2024, with losses having peaked in the quarter. Courtesy Marvel Studiosĭisney+ beats subscriber expectations but that growth came at a costĭisney 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. Tatiana Maslany as Jennifer "Jen" Walters/She-Hulk in Marvel Studios' She-Hulk: Attorney at Law, exclusively on Disney+.
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