Disney Laying Off 7,000 -- but Leaves Staff Hanging In Iger's First Big Move Back in CEO Role

By Travis Hoium – Mar 29, 2023 at 10:20AM

NYSE: DIS

Walt Disney

Market Cap

$167B

Today's Change

(1.44%) $1.30

Current Price

$91.85

Price as of September 16, 2024, 4:00 p.m. ET

Disney's layoffs weren't handled well, but there's a reason they're happening now.

Disney (DIS 1.44%) announced on Monday that it was letting 7,000 people go, but that the layoffs will be rolled out over the course of over a month. This is Iger's biggest move back as CEO and may help the company chart the path forward, but it's hard to argue that this is the best way to keep a massive media giant in a leadership position. Travis Hoium digs into the announcement in this video.

*Stock prices used were end-of-day prices of March 27, 2023. The video was published on March 28, 2023.

Travis Hoium has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends the following options: long January 2024 $145 calls on Walt Disney and short January 2024 $155 calls on Walt Disney. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.