Wednesday, 8 May 2024

Bob Iger Has No Plans to Lift Disney Hiring Freeze

Bob Iger’s return as CEO of Disney may signal a time of change, but the company’s hiring freeze is one thing that won’t change.

Disney stunned the industry when it announced last week that Bob Chapek would be replaced by his predecessor, former CEO Bob Iger. Chapek had increasingly lost the confidence of investors, as well as Iger, and the company hopes Iger will be able to help it return to greater profitability.

Whatever changes Iger may have in store for Disney, hiring is not one of them, according to CNBC. At a meeting with company employees, Iger emphasized the need for the company’s streaming services to become profitable, rather than simply add subscribers.

When the questions turned to the company’s hiring freeze, Iger indicated there were no plans to reverse it for the time being.