The layoffs, which could affect less than one per cent of the company’s workforce, are expected to largely impact the marketing division. Disney had approximately 231,000 employees as of the end of fiscal year 2025.

The restructuring plans reportedly began before Josh D’Amaro assumed the role of chief executive officer in March.

Chief marketing officer Asad Ayaz is said to be leading efforts to consolidate the company’s marketing operations and reduce costs under an internal initiative known as Project Imagine.

Disney has not officially confirmed the report.

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The former world’s richest man, Elon Musk, who owns X, formerly known as Twitter, is extending a plea to advertisers, urging them to return to the platform despite recent controversies.

The company made this known in a letter addressed to both current and former advertisers, CEO Linda Yaccarino emphasized X’s commitment to prioritizing child safety online.

This appeal comes at a time when owner Elon Musk dismissed concerns from advertisers regarding the platform.

Yaccarino, following her participation in a congressional hearing on online safety, expressed X’s support for proposed online safety bills put forth by US lawmakers.

The message aims to set X apart from other social networks whose leaders are adopting a more cautious stance toward impending regulations according to Bloomberg who first reported the news.

Despite claiming to be an entirely new entity from its predecessor Twitter, X has encountered challenges in curbing the spread of harmful and offensive content on its platform.

Recent instances, such as the struggle to manage disturbing images related to the Israel-Hamas conflict and blocking searches for Taylor Swift’s name due to deepfake content, have pushed forward these difficulties.

Amidst the fallout from Elon Musk’s confrontational response to advertisers in November, X, formerly known as Twitter, is now witnessing efforts led by CEO Linda Yaccarino to mend relationships and entice advertisers back to the platform.

The CEO’s strategic move involves positioning X as a platform dedicated to ensuring the online safety of children, aligning its stance with proposed legislative measures.

Walmart, the largest retailer in the United States, notably distanced itself from X, becoming the first major company to halt advertising on the platform due to Musk’s controversial remarks. This decision by Walmart signifies a pivotal moment as it marks a significant departure from X following Musk’s recent string of disparaging comments.

Other notable companies, including Disney, IBM, and Sony, have also opted to withdraw their advertising from X, contributing to the platform’s challenges in retaining commercial partnerships.

In the aftermath of these controversies and advertiser withdrawals, X is acutely aware of the pivotal role advertising plays in its revenue stream.

Yaccarino’s outreach efforts are a strategic move aimed at reshaping X’s image and rebuilding trust with commercial partners, recognizing the vital importance of advertisers for the platform’s financial sustainability.

As X navigates these challenges, the overarching theme is a concerted effort to reposition itself, emphasizing commitments to child safety online and aligning with legislative measures.

The outcome of these endeavors will determine X’s trajectory as it seeks to regain confidence, rebuild relationships, and secure the continued support of crucial advertising partners.

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TECHDIGEST – Entertainment giant Disney said Wednesday it was laying off 7,000 employees, as CEO Bob Iger announced a reorganisation of the company he returned to lead last year.

The job cuts follow similar moves by US tech giants dialing back from a hiring spurt that began during the height of the pandemic.

“I do not make this decision lightly,” Iger said on a call to analysts after Disney posted its latest quarterly earnings.

In its 2021 annual report, the group said it employed 190,000 people worldwide, 80 percent of whom were full-time.

“We are going to take a really hard look at the costs for everything that we make, both across television and film,” Iger said.

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“Because things in a very competitive world have just simply gotten more expensive.”

The storied company founded by Walt Disney said its streaming service saw its first ever fall in subscribers last quarter as consumers cut back on spending.

Subscribers to Disney+, the streaming archrival to Netflix, fell one percent to 161.8 million customers on December 31, compared to three months earlier.

Analysts had broadly expected the decline, and the Disney share price climbed more than five percent in post-session trading.

“There are still big challenges ahead for Disney,” Insider Intelligence principal analyst Paul Verna said in a note to investors.

“Its traditional TV business is eroding, its streaming operation is not yet profitable, and it’s facing pressure from an activist investor to rein in costs and plan for a post-Iger succession.”

Source: Punchng.com

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