Bob Iger says Disney’s hiring freeze will remain in place with his return as CEO

New York
CNN Business
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Bob Iger He told Disney employees on Monday that the hiring freeze will remain in place at the company as he returns to his role as CEO.

Egger — who stunned the media world when he said last week he would Again He has become Disney’s CEO — employees were informed during a city council meeting at the company’s Burbank, California headquarters on Monday. It was Iger’s first day back on the Walt Disney studio lot.

It was a hiring freeze announce earlier this month by his predecessor Bob Chapek. Replace Iger tanglewho had a short but turbulent stint as Disney’s president.

Iger said it was a “prudent thing to do” to keep the freeze in place given the challenges facing the company. He also stated that the duration of the hiring moratorium would be a factor as it addresses Disney’s overall “cost structure”.

The announcement of Iger’s return comes at a time of great difficulty and intense scrutiny for Disney, which is facing challenges across its media empire. Its share price has been sluggish, and although its live-streaming business is growing, it is losing billions of dollars.

Earlier Monday, Iger tweeted a photo of the Disney headquarters and said, “Full of gratitude and excitement to be back.”

Egger wasted no time in making his mark on the company.

Soon after he was announced as CEO, Iger reorganized Disney Content Distribution Structure Karim Daniel, the head of Disney’s media and entertainment distribution unit, will be leaving the company, he said.