Iger Addresses Massive Layoffs, Returning to Disney and the Future of the Company

Find out the reason for the massive layoffs at the Disney Company, and learn how Bob Iger plans to help The Walt Disney Company soar in the future.

Time 100 Most Influential People

Bob Iger has quite the track record with the Walt Disney Company over the past 50 years. Disney fans were shocked but elated when Bob Iger returned as Disney CEO back in November 2022. Recently, Bob Iger is listed as Time 100 Most Influential People of 2023.

In an interview with Times Magazine, Bob Iger shares, “I was brought back for a reason. The company had gone through a very difficult period, exacerbated by a global pandemic. And more than anything, the company needed stability, needed to establish a set of priorities and focus on them.“

“The only way you end up getting to success is by deciding what the opportunities are, and then organizing your people and your company to go after them.“

Many Disney fans were hopeful that Bob Iger would be the much-needed stability for the Walt Disney Company.

Massive Layoffs

During the First Quarter Earnings Call, Bob Iger shared that the Walt Disney Company will look to streamline the company. During this call, Iger announced that the Walt Disney Company will be cutting $5.5 billion in costs.

To meet this need to cut costs, huge job reductions will be coming. Bob Iger announced a workforce reduction of 7,000 jobs. The first round of layoffs shocked many as Disney executives were among the first to be let go.

Iger shares, “The $5.5 billion was a number that we came up with that we thought was not only achievable, but that was necessary to the bottom line success of the company.”

The primary goal of these job cuts is to put more control into the hands of the actual creators. Iger shares, “One of the things that is most important for those managing creativity is a very, very defined, and very, very tangible feedback loop.”

Future of Disney

Bob Iger shares that there is a balance with the Disney Company to “respect the past, but also be completely capable of and willing to be relevant by some degree of modernization; understanding that the world has changed and while certain stories stand the test of time, others don’t.”

Iger shares that they don’t necessarily want more content, but less content that produces better quality. In regards to respecting the past, Iger shares that many companies often move away from what the company great to remain relevant.

“There is a way to completely adhere to those same values but to present them to the world to your customers, and your employees in much more relevant ways.”

Bob Iger is helping to bring stability to The Walt Disney Company with more quality content, allowing more power to the creators, and honoring the rich Disney legacy.

Iger shares that they don’t necessarily want more content, but less content that produces better quality.

What do you think of Bob Iger’s return as CEO? Do you agree with his planned job cuts? Do you like the idea of more focus on quality over quantity for Disney productions? Share your thoughts in the comments.

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