Latest news with #AllieCanal
Yahoo
a day ago
- Business
- Yahoo
Disney laying off hundreds of global workers: What to know
Entertainment giant Disney (DIS) announced that it will be laying off hundreds of employees from its global workforce, including workers from its film and television, TV publicity, casting and development, and corporate financial operations segments. Yahoo Finance senior media reporter Allie Canal outlines Disney's cost-cutting efforts, underlining the media giant's pivot into streaming and away from linear TV. To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
Yahoo
a day ago
- Business
- Yahoo
Disney to lay off several hundred employees globally
Disney (DIS) is laying off several hundred employees across its global operations as part of an effort to reduce costs, with consumers increasingly shifting from traditional cable packages to streaming. The cuts are part of a broader effort to streamline operations as the entertainment giant adapts to a rapidly changing media landscape. Affected areas include marketing for both film and television, TV publicity, casting and development, and corporate financial operations. The company told Yahoo Finance that it has taken a surgical approach to minimize the number of impacted employees, adding that no teams are being eliminated as part of the process. The stock was little changed on the news. The mass exodus of pay-TV subscribers has triggered widespread job losses across nearly all of the media industry's traditional businesses. In response, companies like Disney have shifted their focus and resources toward streaming, pouring billions into building out direct-to-consumer platforms as audiences abandon pay-TV. In its latest earnings release, Disney reported a 13% year-over-year drop in linear network revenue while direct-to-consumer revenue climbed 8%, underscoring the company's accelerated pivot to digital distribution. Since 2023, Disney has eliminated more than 8,000 roles as part of a broader effort to cut $7.5 billion in annual costs. Earlier this spring, Disney eliminated just under 200 roles within its news and entertainment division, with the bulk of cuts impacting ABC News. As part of those layoffs, production teams across "20/20" and "Nightline" were consolidated, along with the teams behind the three hours of "Good Morning America's" branded programming. The division also shuttered FiveThirtyEight, its political and data journalism site. Disney's latest round of cuts comes after the company reported strong second-quarter results last month and announced plans to build a new theme park and resort in Abu Dhabi, marking its first major expansion into the Middle East and seventh global resort. Shares have surged over 20% since the report as investors praised the company's improving financial performance and long-term growth strategy. Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at
Yahoo
a day ago
- Business
- Yahoo
Disney to lay off several hundred employees globally amid $7.5 billion cost-cutting effort
Disney (DIS) is laying off several hundred employees across its global operations as part of an effort to reduce costs, with consumers increasingly shifting from traditional cable packages to streaming. The cuts are part of a broader effort to streamline operations as the entertainment giant adapts to a rapidly changing media landscape. Affected areas include marketing for both film and television, TV publicity, casting and development, and corporate financial operations. The company told Yahoo Finance that it has taken a surgical approach to minimize the number of impacted employees, adding that no teams are being eliminated as part of the process. The stock was little changed on the news. The mass exodus of pay-TV subscribers has triggered widespread job losses across nearly all of the media industry's traditional businesses. In response, companies like Disney have shifted their focus and resources toward streaming, pouring billions into building out direct-to-consumer platforms as audiences abandon pay-TV. In its latest earnings release, Disney reported a 13% year-over-year drop in linear network revenue while direct-to-consumer revenue climbed 8%, underscoring the company's accelerated pivot to digital distribution. Since 2023, Disney has eliminated more than 8,000 roles as part of a broader effort to cut $7.5 billion in annual costs by the end of its fiscal year 2025. Earlier this spring, Disney eliminated just under 200 roles within its news and entertainment division, with the bulk of cuts impacting ABC News. As part of those layoffs, production teams across "20/20" and "Nightline" were consolidated, along with the teams behind the three hours of "Good Morning America's" branded programming. The division also shuttered FiveThirtyEight, its political and data journalism site. Disney's latest round of cuts comes after the company reported strong second-quarter results last month and announced plans to build a new theme park and resort in Abu Dhabi, marking its first major expansion into the Middle East and seventh global resort. Shares have surged over 20% since the report as investors praised the company's improving financial performance and long-term growth strategy. Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Disney to lay off several hundred employees globally amid $7.5 billion cost-cutting effort
Disney (DIS) is laying off several hundred employees across its global operations as part of an effort to reduce costs, with consumers increasingly shifting from traditional cable packages to streaming. The cuts are part of a broader effort to streamline operations as the entertainment giant adapts to a rapidly changing media landscape. Affected areas include marketing for both film and television, TV publicity, casting and development, and corporate financial operations. The company told Yahoo Finance that it has taken a surgical approach to minimize the number of impacted employees, adding that no teams are being eliminated as part of the process. The stock was little changed on the news. The mass exodus of pay-TV subscribers has triggered widespread job losses across nearly all of the media industry's traditional businesses. In response, companies like Disney have shifted their focus and resources toward streaming, pouring billions into building out direct-to-consumer platforms as audiences abandon pay-TV. In its latest earnings release, Disney reported a 13% year-over-year drop in linear network revenue while direct-to-consumer revenue climbed 8%, underscoring the company's accelerated pivot to digital distribution. Since 2023, Disney has eliminated more than 8,000 roles as part of a broader effort to cut $7.5 billion in annual costs by the end of its fiscal year 2025. Earlier this spring, Disney eliminated just under 200 roles within its news and entertainment division, with the bulk of cuts impacting ABC News. As part of those layoffs, production teams across "20/20" and "Nightline" were consolidated, along with the teams behind the three hours of "Good Morning America's" branded programming. The division also shuttered FiveThirtyEight, its political and data journalism site. Disney's latest round of cuts comes after the company reported strong second-quarter results last month and announced plans to build a new theme park and resort in Abu Dhabi, marking its first major expansion into the Middle East and seventh global resort. Shares have surged over 20% since the report as investors praised the company's improving financial performance and long-term growth strategy. Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
Budgeting for burnout: How much you need in case you're laid off
Feeling burnt out in your current job or struggling after getting laid off? Money Saving and Budgeting Expert Andrea Woroch is here to help, sitting down with Wealth's Allie Canal to talk more about how to budget effectively and curb your spending if you're thinking about quitting your job, just lost your job, or are transitioning between jobs. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This week on wealth, we're helping you budget for burnout, walking you through the financial impact if you quit your job or are unexpectedly laid off. Joining me now is money saving expert, Andrea Woroch. Andrea, let's start with the basics here. If you're feeling burnt out at work, starting to think about stepping back, switching careers, even taking a break, how much should you have saved? Well, ideally, in a perfect world, you should have approximately six months of living expenses saved in a separate account. Make sure it's out of sight, out of mind. But I know for a lot of Americans out there, having even $1,000 may seem overwhelming in your savings account. So, I would start with smaller goals. Start with one month of living expenses. And to figure out how much that is, you need to list out all those reoccurring expenses that you have, those necessities, whether that's rent or mortgage or car payment, um, and all those kind of expenses. But you also want to think a little bit beyond the necessities. Are there any of those lifestyle expenses that you don't want to give up if you get laid off or you want to quit your job? Maybe this is a gym membership, you might need that for your mental health, or hair care services. You want to keep up your appearance for future job interviews. So you do need to build that into your estimated monthly expenses and create that savings goal. What if you're laid off unexpectedly, and you're not prepared? What should be your first move? Okay. So if you're laid off and you're not prepared, you need to sit down and create a budget to make sure that you rid any wasteful spending out of your, you know, out of your spending. Tame those impulse purchases by identifying the triggers. Are, you know, negative emotions can fuel purchases that you really don't need. So you do need to find those alternative coping mechanisms. I like the zero-based budget method. This assigns a job to every dollar you have coming in. You know, you have to speak with your HR employment to find out if you qualify for unemployment. Perhaps they're giving you some kind of, um, package when you're being laid off. And, um, you know, prepare for how to stretch those dollars as far as possible. Also start hacking your monthly bills, call providers, and you want to negotiate rates, compare rates with competitors. Um, there are a lot of things that you can do to lower those monthly expenses. Um, and then, of course, look for ways to supplement your income. Maybe there's a side hustle you could take on. This is like pet sitting or virtual tutoring. There are sites like or Handy where you could find odd jobs in your neighborhood just to keep up with some additional income coming in. Um, and then, you know, these are just some of the things that you could be doing to give yourself a little flexibility. And if you are unemployed, how do you balance saving versus paying off maybe debt, like student loans or your credit card bills? Yeah. So when you are laid off or even if you're planning for that emergency fund, and you don't have enough cash set aside, you really do need to focus towards savings first. But at the same time, you don't want to let that interest pile up on any debt that you are carrying, like a high-interest credit card, right? So what you would do is use a balance transfer card for credit card debt, move the money from your current credit card that might have 20% interest or more to this new credit card, which will offer 0% for 12 to 21 months. This will buy you time to make just those minimum payments without that interest adding up. So you could put more towards savings or, you know, at least pay your bills without feeling stressed about that credit card bill. And then when it comes to student loans, call your lender, they should be able to give you, um, some deferment because you are experiencing financial hardship. And if you own a home or own a car, find out if there's anything that you can do to defer those payments as well. I mean, that's not ideal ultimately, because the interest will still compound to your loan, and you will owe that more down the road. But if you really can't make ends meet, those are options so that you don't, um, you know, get into a worse financial position. And then when it comes to your savings account, I did want to mention that it's a really good move to open up a high-yield savings account because these accounts offer 4% or more in interest. So now your savings will earn a little money for you. That's like passive income, you earn without having to do anything. And a great example is Bread Savings. They offer 4.3% annual percentage yield. Only $100 required to open an account that's compounded daily, deposited into your account at the end of the month. So just a no-brainer move to, um, take advantage of that. Andrea, some great advice there. Thank you so much for your time. Appreciate it. Thanks for having me. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
