Disney's hiring freeze will stay in place, CEO Bob Iger told employees Monday.
He acknowledged Disney's focus must shift toward making its streaming business profitable, rather than concentrating on simply adding subscribers.
Iger kicked off the town hall by quoting a song from the musical "Hamilton" that says "There is no more status quo. But the sun comes up and the world still spins," according to sources who heard the town hall and asked to remain anonymous because the event was private.It was Iger's first town hall with staff since Disney abruptly announced last week that he would replace Bob Chapek, who had been in the job for less than three years.
Iger, 71, had repeatedly said he wouldn't return as Disney's CEO, but on Monday told staffers it was "an easy yes" to return to the job. He said it was the right thing for him to do because of his love for Disney and its employees. Iger acknowledged Disney's focus must shift toward making its streaming business profitable rather than concentrating on simply adding subscribers, which was the company's priority when he gave up the CEO job in 2020. He noted Disney won't be pursuing any major acquisitions in the near future, adding he's comfortable with Disney's current set of assets.
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