LONDON: Walt Disney Co. is planning to freeze hiring and cut some jobs as it strives to move the Disney+ streaming service to profitability against a backdrop of economic uncertainty, according to a memo seen by Reuters on Friday.
Chief Executive Bob Chapek sent the memo to Disney’s leaders, saying the company is instituting a targeted hiring freeze and anticipates “some small staff reductions” as it looks to manage costs.
“While certain macroeconomic factors are out of our control, meeting these goals requires all of us to continue doing our part to manage the things we can control — most notably, our costs,” Chapek wrote in the memo.
The move came after Disney missed Wall Street estimates for quarterly earnings on Tuesday as the entertainment giant racked up more losses from its push into streaming video, which it refers to as its direct-to-consumer (DTC) business. Shares of the company fell more than 13 percent on Wednesday following its results.
Disney has said the fast-growing service added 12 million subscribers in its fiscal fourth quarter but reported an operating loss of nearly $1.5 billion. The company said Disney+ would become profitable in fiscal 2024, with losses having peaked in the quarter.
The streaming service is known for original series including the “Star Wars” entries “The Mandalorian,” “Andor” and “Obi-Wan Kenobi,” the Marvel entries “WandaVision,” “Hawkeye” and “She-Hulk: Attorney at Law,” and content hubs for Disney, Pixar, Marvel and “Star Wars” films.
Wall Street analysts voiced concern about Disney’s escalating streaming costs. MoffettNathanson analyst Michael Nathanson observed in a note this week that “the company has to prove that their pivot to DTC will be worth the investment price that is currently being paid.”
Corporate America is making deep cuts to its employee base to brace for an economic downturn. Meta Platforms said this week it would cut more than 11,000 jobs, or 13 percent of its workforce to rein in costs.
One of Disney’s studio peers, Warner Bros Discovery, has undergone dramatic cost-cutting efforts, including layoffs, as the recently merged company restructures its content operations.
Chapek said Disney has established a task force, including Chief Financial Officer Christine McCarthy and General Counsel Horacio Gutierrez, to help him make “critical big picture decisions.”
The company already has begun looking at content and marketing spending, but Chapek said the cuts would not sacrifice quality. Hiring will be limited to a small subset of critical positions, and some staff reductions are anticipated, as the company looks to make itself more cost-efficient, Chapek wrote.
Chapek said business travel would be limited and trips would require advance approval, or conducted virtually as much as possible.
“Our transformation is designed to ensure we thrive not just today, but well into the future,” Chapek wrote.
Disney plans to freeze hiring and cut some jobs, memo shows
https://arab.news/r3uzy
Disney plans to freeze hiring and cut some jobs, memo shows
- Announcement comes amidst economic uncertainty
- Disney+ streaming service racks up losses of nearly $1.5 billion in Q4
Arab News wins three Awards of Excellence at Newspaper Design competition
- Accolades bring Arab News’ total awards to 125, underscoring its editorial evolution since relaunch
LONDON: Arab News, Saudi Arabia’s first English language daily, won three Awards of Excellence at the sixth Newspaper Design competition.
“The Kingdom’s Bride and Joy” won the Best of Page One award, while “Riyadh: A city steeped in history” took home the prize for Best of Double Page Spreads, and “Accession to the British Throne” scooped the Best of Infographics recognition.
Established in 2009, the distinguished Newspaper Design is Asia’s inaugural newspaper design website, acknowledging outstanding contributions to news design in both print and online media.
Chaired by Mario Garcia, a globally renowned Cuban-American media designer dubbed the “godfather of newspaper design,” this year’s jury praised Arab News’ entries for their innovation and visual storytelling prowess.
“The Kingdom’s Bride and Joy” page, commemorating the historic union between Crown Prince Hussein of Jordan and Saudi Arabia’s Rajwa Al-Saif, was lauded for its cinematic illustration capturing the significance of the occasion. The judges said: “This page marks a historic occasion and captures the sweep and significance with a polished illustration that looks more like a well-directed movie poster than just a newspaper centerpiece.”
Similarly, the design spotlighting Riyadh’s National Day and Arab News’ Expo 2030 campaign was commended for its innovative blend of landscape photography and illustration, seamlessly narrating the city’s story.
Arab News’ coverage of King Charles III’s coronation ceremony last May earned recognition for its elegant and celebratory infographics. In December, the page was also recognized within the category Supplements for Special Occasions at the European Newspaper Awards.
These accolades bring Arab News’ total awards to 125, underscoring its editorial evolution under Editor-in-Chief Faisal J. Abbas, who spearheaded its relaunch in 2018.
Under the guidance of Design Department head Omar Nashashibi, Arab News continues to receive acclaim, recently earning multiple honors at the 59th Annual Society of Publications Designers, including for its feature opener “Onions’ tears and inflation fears” page and custom feature design for the special investigation “Kingdom vs Captagon.”
Past recognitions encompass a range of special projects, including coverage of the “Saudi’s Animal Kingdom,” the “Step by Step Hajj Guide 2023,” and the “FIFA Qatar World Cup 2022” special edition.
For more information about Arab News and its award-winning design, visit https://www.arabnews.com/greatesthits.
Comedian Stephen Colbert defends pro-Palestine college campus demonstrators after Trump attack
- Comedian said protests should be allowed to continue as long as they are peaceful
- Trump claimed 2017 white nationalist rally in Charlottesville was ‘nothing’ in comparison to pro-Palestine college protests
LONDON: American comedian Stephen Colbert has defended pro-Palestinian college campus demonstrators, countering recent criticism from former President Donald Trump.
Last week, Trump likened the student rallies to the 2017 white nationalist rally in Charlottesville, Virginia, claiming the latter was “nothing” in comparison.
On his “Late Show” segment, Colbert expressed solidarity with the protestors who are urging their institutions to cut ties with companies profiting from the conflict in Gaza.
The host said that peaceful protests “should be allowed,” rebuking Trump for “downplaying one of the darkest chapters in American history.”
He added: “Now even if you don’t agree with the subject of their protests, as long as they are peaceful, students should be allowed to protest. It’s their First Amendment right.”
The former “The Colbert Report” star criticized the response of both university officials and law enforcement to recent events at Columbia University, denouncing the use of heavily armed police and threats to call in the National Guard as a “classic de-escalation tactic.”
Trump, however, praised law enforcement’s handling of the situation, commending New York City’s police force.
Colbert’s remarks coincided with the deployment of riot police at Columbia University’s Hamilton Hall, resulting in the arrest of numerous pro-Palestinian students who had occupied the building.
The raids drew condemnation from advocacy groups such as Jewish Voice for Peace and UN Special Rapporteur Francesca Albanese. New York City’s mayor reported the arrest of 282 students.
Subsequent clashes between pro-Palestinian groups, counter-protestors, and law enforcement erupted at other campuses across the US.
Meanwhile, Brown University in Rhode Island reached an agreement with protesters on Tuesday, marking what appears to be the first time a US college has agreed to vote on divestment in response to the protests.
Like Digital & Partners opens new office in Saudi Arabia
- Digital transformation agency expands with Riyadh premises
DUBAI: Like Digital & Partners, an independent digital transformation agency with offices in Dubai and London, has announced the opening of premises in Riyadh to mark its expansion into the Kingdom.
The move comes a month after the agency partnered with business expansion platform AstroLabs to extend its footprint in the region.
The new office in Riyadh will underscore its commitment to the region, it said in a statement.
Like Digital & Partners aims to create new jobs primarily in the fields of project management and user interface design. It plans to employ 10 to 15 staff members at its Riyadh office by the end of 2025.
Specializing in the hospitality industry, the agency has worked with resorts such as Atlantis and One&Only One Za’abeel. It aims to leverage this expertise and experience in the Kingdom, which is seeing an influx of new hotels and resorts, the agency said.
Karl Escritt, CEO of Like Digital & Partners, said: “As we continue our rapid expansion into the GCC (Gulf Cooperation Council) market and beyond, we are delighted to lay down roots in Riyadh, Saudi Arabia.
“Having dedicated years to nurturing our business in the Kingdom and developing our knowledge and expertise of the market, we are looking forward to further strengthening our ties and servicing new clients.”
Publicis Sapient appoints new managing director for Saudi Arabia
- Ashwaq Al-Shathri will be based in Riyadh, oversee company’s business growth in the Kingdom
DUBAI: Publicis Sapient, a digital business transformation company, has announced the appointment of Ashwaq Al-Shathri as country managing director for Saudi Arabia.
The appointment reflects the importance of the Kingdom and the Middle East for Publicis Sapient, the company said.
Based in the company’s Riyadh office, Al-Shathri will be responsible for accelerating business growth in Saudi Arabia and building the operational business and community.
She will lead the teams responsible for digital business transformation in the region, leveraging the company’s strategy, product, experience, engineering and data, and artificial intelligence capabilities.
Nigel Vaz, CEO of Publicis Sapient, said: “We’re committed to supporting KSA’s technology-driven transformation and realization of Vision 2030, while also, ultimately, helping position KSA as a leader in digital innovation on the global stage.”
Al-Shathri’s appointment “will directly contribute to our continued business growth as we scale our expertise in the Middle East to better serve our clients and their customers and help them transform digitally,” said Srinivas Devulapalli, managing director of Publicis Sapient MENA (Middle East and North Africa).
Publicis Sapient is the digital business transformation hub of Publicis Groupe with 20,000 people and over 53 offices worldwide. Its global clients include Marriott, Goldman Sachs, McDonald’s, and Walmart, while regional clients include Omantel, Diriyah Gate, and Miral.
London mayoral candidate under scrutiny for joining Islamophobic Facebook group
- Conservative candidate Susan Hall has refused to leave groups containing Islamophobic content, instead joining a new one
- Campaigner criticizes move as ‘last-ditch attempt’ to win votes as London prepares to choose new mayor
LONDON: The London mayoral candidate for the Conservative Party has come under scrutiny for her involvement in Facebook groups known for hosting Islamophobic content.
A joint investigation by Greenpeace-funded outlet Unearthed and The Guardian revealed that Susan Hall was a member of at least six private Facebook groups containing Islamophobic hate speech and abusive remarks directed at her opponent, Sadiq Khan.
The exposé revealed that the groups, presented as local grassroots campaigns against London’s clean air policies, are run by Conservative Party operatives including staff and activists.
Despite public exposure, Hall has declined to exit any of these Facebook groups and instead joined another one on Tuesday, according to Unearthed.
Khan told The Guardian these revelations could have an impact on the safety of his family and staff and has urged police to take action.
Reporters who infiltrated the 36-group network uncovered numerous Islamophobic and racist posts, including derogatory remarks about Khan, labeling him a “terrorist sympathizer” and a “khaki punt.” Some commenters even expressed willingness to pay for harm to be inflicted on him.
Alongside posts inciting vandalism, the investigation identified at least one YouTube video alleging that “Islamists” were “taking over Britain.”
While Conservative staff or politicians did not appear to directly engage with these racist posts, a party spokesperson unequivocally condemned posts in the groups.
However, Ami McCarthy, a political campaigner at Greenpeace UK, criticized Hall’s decision to join another group as a “last-ditch attempt to boost her ratings,” arguing that a “respectable politician would have issued an apology and left the Facebook groups” after the exposure of racism, Islamophobia, and posts inciting criminal damage.
Londoners will cast their votes for the new mayor on Thursday, with current mayor Khan leading in the polls, according to YouGov.
Hall has previously faced similar controversies related to Islamophobia. In February, she was called upon to apologize by Khan’s Labour party after suggesting that Jewish Londoners were “frightened” of Khan and retweeting a post from a far-right figure calling Khan the “mayor of Londonistan.”
Last November, Secretary-General of the Muslim Council of Britain Zara Mohammed denounced Hall’s candidacy as “unacceptable,” highlighting the persistent nature of Islamophobia within the Conservative Party and its divisive impact on communities.
