The American Tribune.com
    Telegram Facebook
    The American Tribune.com
    • Home
    • Politics
    • Business and Economy
    • Entertainment
    • Sports
    • Commentary
    • Shop Here
    The American Tribune.com
    Business and Economy

    Woke Disney Forced to Shake Things Up Again at Offices

    By EllisJanuary 12, 2023Updated:January 12, 2023
    Facebook Twitter Email

    CEO Bob Iger recently said in a company-wide email that Disney employees must return to working in the office at least four days a week.

    Following the pandemic, many executives across industries have been winding down remote work policies as they reckon with declines in productivity and stress the importance of in-person collaboration.

    The internal memo obtained by CNBC states:

    “As I’ve been meeting with teams throughout the company over the past few months, I’ve been reminded of the tremendous value in being together with the people you work with. As you’ve heard me say many times, creativity is the heart and soul of who we are and what we do at Disney. And in a creative business like ours, nothing can replace the ability to connect, observe, and create with peers that comes from being physically together, nor the opportunity to grow professionally by learning from leaders and mentors.”

    During the pandemic, many companies opted for a fully remote or hybrid work model to prevent large gatherings of people.  As the pandemic subsided, companies sought a more normalized, pre-pandemic office environment.

    Many companies have stuck to a hybrid model with a more even split between days at home versus in the office.  Disney is opting to have employees in the office most of the time.

    CNBC reports:

    “Iger’s four-day-per-week stipulation is relatively strict compared with other large companies, which have opted for two or three mandated in-office days for hybrid employees. Apple mandated employees return to work three days a week in September. Twitter owner Elon Musk, who has famously slept as his companies’ facilities as a show of commitment, ordered nearly all Twitter employees to return to the office five days a week in November.”

    Disney’s new policy comes shortly after Iger returned to the executive position in the company in an effort to improve growth and profitability.  Iger resumed leadership of Disney in November of last year, just as former CEO Bob Chapek had planned a massive cost-cutting campaign. 

    NPR reported on Iger’s return:

    “Disney announced in November that Iger would be stepping back into his role as CEO. He was first CEO from 2005 to 2020, and then served as the executive chairman and board chairman before retiring in December 2021.”

    Disney has been burdened with exorbitant expenses from its streaming service Disney+.  Furthermore, the legacy media landscape is extremely dynamic as many consumers are ditching cable for streaming.  This is changing the way revenue is earned as ad revenue lessens.

    Iger’s plan is to reorganize Disney’s Media and Entertainment Distribution division, which is responsible for the company’s content and subsequent distribution.  He has also maintained a hiring freeze implemented by Chapek before his departure, as a cost-cutting measure while Disney undergoes reorganization.  This will also give budget allocations back to those who are engaging in creative projects, which could possible drive more revenue for the company.

    Ultimately, Iger has a tall order to fill.  Disney has experienced significant underperformance over the past year.  Disney shares have fallen approximately 40 percent where the company has lost market value of around $174 billion.

     

    "*" indicates required fields

    Katie Hobbs' press secretary has resigned for threatening to shoot 'transphobes' after the Nashville Christian school shooting. Should she be prosecuted?*
    This poll subscribes you to our premium network of content. Unsubscribe at any time.
    This field is for validation purposes and should be left unchanged.




    Share. Facebook Twitter Email

    Related Posts

    Chick-fil-A Announced a Big Change to the Menu Coming Next Week

    March 30, 2023

    JUST IN: Saudi Arabia Joins Major Alliance with China, Russia, India, and Pakistan

    March 30, 2023

    “We Were All In Tears”: Dog Reunited With Owner After Five Years, Immediately Melts Into Owner’s Arms

    March 30, 2023
    sponsors
    image



    Use promo code TRIBUNE for big savings

    Whatfinger






    • About
    • Curation Policy
    • Affiliate Disclosure
    • Privacy Policy
    • Terms of Service
    Copyright 2022 The American Tribune

    Type above and press Enter to search. Press Esc to cancel.