Unhappiest Place On Wall Street: Disney Readies Thousands Of Layoffs As Managers Told To Slash 20% Of Costs Three years, two CEOs, at least six rounds of layoffs... and one stock that still can't get off the floor. On Monday evening, Bloomberg reported that Walt Disney is set to unleash thousands of job cuts , with the entertainment giant asking some managers to target 20% in annual cost savings .
Citing "people familiar with the matter", the savings could come from job eliminations as well as other expense reductions, and some of Disney's operations, which range from theme parks to the TV networks and the movie studio, "will be affected disproportionately." Disney declined to comment, but the timing speaks for itself: the company reports fiscal Q4 results in two weeks (Nov 17), and it has already promised investors double-digit growth in adjusted EPS in the current fiscal year.
When the top line won't cooperate, well, there is always the cost line. Regular readers know this is hardly