On April 24, Disney began a second wave
of layoffs as part of the company's larger
reorganization efforts to cut costs by $5.5 billion.
CNBC reports that the latest round of layoffs
will bring the total number of jobs cut to 4,000.
Earlier in 2023, returning CEO Bob Iger
announced plans to reduce Disney's workforce by
7,000 employees during his first earnings call.
7,000 jobs is equal to about
3% of the roughly 220,000 people
employed by Disney as of October 1.
According to the company's securities filing,
Disney employs approximately 166,000 in
the U.S. and another 54,000 abroad.
CNBC reports that employees
were first notified of the
upcoming layoffs on March 27.
The senior leadership teams have
been working diligently to define our
future organization, and our biggest
priority has been getting this right,
rather than getting it done fast, Alan Bergman and Dana Walden, co-chairmen
of Disney Entertainment, via CNBC.
CNBC reports that the latest round of layoffs will
impact various divisions across the company,
including ESPN and Disney Entertainment.
CNBC reports that the latest round of layoffs will
impact various divisions across the company,
including ESPN and Disney Entertainment.
As we advance as a core segment
of Disney, with operational control
and financial responsibility,
we must further identify ways
to be efficient and nimble, Jimmy Pitaro, ESPN CEO, via CNBC.
We will act with compassion,
respect for our colleagues,
and professionalism as we face
these hard circumstances, Jimmy Pitaro, ESPN CEO, via CNBC.
We will act with compassion,
respect for our colleagues,
and professionalism as we face
these hard circumstances, Jimmy Pitaro, ESPN CEO, via CNBC
Airbnb is bringing to life some of the most beloved homes in pop culture ... courtesy of their new Icons category -- which is leaning big into Disney. The house.. TMZ.com
Disney has finally released the first trailer for 'Mufasa: The Lion King.' The film, directed by Barry Jenkins, serves as both an origin story and follow-up to Jon Favreau's 2019 movie 'The Lion King' which was based on the 1994 Disney animated classic of the same name. The new film will tell the backstory of Simba's father, Mufasa, an orphan who grew up to be a wise, powerful and compassionate ruler.
Credit: The Hollywood Reporter Duration: 01:31Published
2024 Rock & Roll Hall of Fame Inductees , Are Announced.
2024 Rock & Roll Hall of Fame Inductees , Are Announced.
This year's honorees are
Mary J. Blige, Cher, Dave Matthews Band.
This year's honorees are
Mary J. Blige, Cher, Dave Matthews Band.
This year's honorees are
Mary J. Blige, Cher, Dave Matthews Band.
Foreigner, Peter Frampton, Kool & The Gang.
Foreigner, Peter Frampton, Kool & The Gang.
Foreigner, Peter Frampton, Kool & The Gang.
Ozzy Osbourne and
A Tribe Called Quest, NPR reports. .
Ozzy Osbourne and
A Tribe Called Quest, NPR reports. .
John Sykes, chairman of the Rock & Roll
Hall of Fame Foundation, issued a
statement about this year's inductees.
Rock & Roll is an ever-evolving
amalgam of sounds that impacts
culture and moves generations, John Sykes, chairman of the Rock & Roll Hall of Fame Foundation, via NPR.
This diverse group of inductees
each broke down musical barriers
and influenced countless artists
that followed in their footsteps, John Sykes, chairman of the Rock & Roll Hall of Fame Foundation, via NPR.
Additionally, the Musical Influence Award will go to Alexis Korner, John Mayall and Big Mama Thornton.
Additionally, the Musical Influence Award will go to Alexis Korner, John Mayall and Big Mama Thornton.
Additionally, the Musical Influence Award will go to Alexis Korner, John Mayall and Big Mama Thornton.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Ahmet Ertegun Award, which honors those
who don't perform music but have made an impact
in the industry, will go to Suzanne de Passe.
The induction ceremony will take place on Oct. 19 and will stream live on Disney+.
It will be available to view on Hulu the following
day and will also air on ABC at a later date.
It will be available to view on Hulu the following
day and will also air on ABC at a later date
Credit: Wibbitz Top Stories Duration: 01:30Published
Key Federal Reserve Inflation Gauge , Rose 2.8% in March.
According to Commerce Department
data released on April 26.
the personal consumption expenditures
(PCE) price index, not including food or energy, rose 2.8% year-over-year in March. .
That exceeded Dow Jones
estimates of 2.7%, CNBC reports. .
When also accounting for food and energy, the all-items PCE measure rose 2.7%,
which was above the 2.6% estimate.
Inflation reports released this morning
were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC.
... but investors should not get
overly anchored to the idea that
inflation has been completely
cured and the Fed will be cutting
interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC.
The prospects of rate cuts remain,
but they are not assured, and the
Fed will likely need weakness in
the labor market before they
have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC.
Consumers continue to spend despite
higher prices, CNBC reports.
Personal spending increased 0.8% in March, while personal income rose 0.5%.
The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living.
The Fed continues to target 2% inflation, which the core PCE has exceeded for
the last three years, CNBC reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix released a Q1 earnings report on April 18, indicating that its number of subscribers jumped 16% year-over-year to reach 269.6 million.
Analysts only expected the streamer to have about 264.2 million subscribers, CNBC reports. .
The company also brought in $9.37 billion in revenue versus analysts' expectations of $9.28 billion. .
However, Netflix said that its membership numbers are no longer the main factor contributing to the company's growth.
As a result, the company will stop providing "quarterly membership numbers or average revenue per user" beginning in 2025, CNBC reports. .
Instead, it will divulge "major subscriber milestones as we cross them.".
Price hikes, terminating password sharing
and offering an ad-supported tier are all tactics that have boosted revenue.
Netflix is also seeking to gain traction within the video game space and recently partnered with TKO Group Holdings to offer WWE on the platform.
We’re in the very early days of
developing our live programming and
I would look at this as an expansion of
the types of content we offer, the way
we expanded to film and unscripted and
animation and most recently games, Ted Sarandos, co-CEO of Netflix, via earnings call.
We believe that these kind of event cultural
moments like the Jake Paul and Mike Tyson
fight are just that kind of television, and we
want to be part of winning over those
moments with our members as well, so that
for me is the excitement part of this, Ted Sarandos, co-CEO of Netflix, via earnings call.
As of the morning of April 18,
Netflix's stock was up 27%
Credit: Wibbitz Top Stories Duration: 01:30Published
Google Fires Employees , for Protesting Israel Contract.
28 Google workers have been fired for protesting
a $1.2 billion contract that the company has with
the Israeli government and military to provide
cloud and AI services, NBC News reports. .
The firings follow an April 16 sit-in at
Google's offices in California, New York and Seattle in which nine workers were arrested.
The group that coordinated the demonstration
is known as No Tech for Apartheid. .
Google issued a statement about the recent firings.
A small number of employee
protesters entered and disrupted
a few of our locations. , Google spokesperson, via statement.
Physically impeding other employees’
work and preventing them from
accessing our facilities is a clear
violation of our policies, and
completely unacceptable behavior. , Google spokesperson, via statement.
We have so far concluded
individual investigations that
resulted in the termination of
employment for 28 employees,
and will continue to investigate
and take action as needed, Google spokesperson, via statement.
No Tech for Apartheid claims that the
workers were fired "indiscriminately.".
This excuse to avoid confronting
us and our concerns directly,
and attempt to justify its illegal,
retaliatory firings, is a lie, No Tech for Apartheid, via statement.
Meanwhile, many of Google's workers have
reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said.
On a personal level, I am opposed
to Google taking any military
contracts — no matter which
government they’re with or what
exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based
in Washington who was arrested during a sit-in, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Amazon Cuts Hundreds , of Cloud Computing Jobs.
An Amazon Web Services (AWS)
spokesperson issued a statement about
the job cuts on April 3, CNBC reports. .
We’ve identified a few targeted areas of
the organization we need to streamline
in order to continue focusing our efforts
on the key strategic areas that we
believe will deliver maximum impact, AWS spokesperson, via statement.
We didn’t make these decisions
lightly, and we’re committed
to supporting the employees
throughout their transition to new
roles in and outside of Amazon, AWS spokesperson, via statement.
Cuts are being made to the store technology division “as a result of a broader strategic shift in the use of some applications in Amazon’s owned as well as in third-party stores,” the spokesperson said.
The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores.
The cashierless technology is overseen
by teams within the AWS unit. .
Beginning in 2022, Amazon started
its largest layoffs in history by letting
go of 27,000 roles company-wide. .
So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. .
This latest round of cuts will
allow U.S. employees to collect pay
and benefits for a minimum of 60 days.
They will also be offered a severance package.
Credit: Wibbitz Top Stories Duration: 01:30Published
UPS to Become US Postal Service’s , Main Air Cargo Provider.
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
In fiscal year 2023, USPS paid FedEx $1.73 billion
for its services, down from the $2.4 billion
FedEx received in fiscal year 2020.
The decrease in payments was partially due
to the postal service using more economical
trucks in place of planes, CNBC reports. .
The parties were unable to reach
agreement on mutually beneficial
terms to extend the contract, FedEx, via securities filing.
Since FedEx will lose nearly $2 billion in annual
business from letting go of the contract, .
hundreds of pilots will likely
lose their jobs, CNBC reports .
Following the announcement, UPS shares
increased 1.4% while FedEx stock dropped 1.6%.
FedEx's current contract is
set to expire on Sept. 29
Credit: Wibbitz Top Stories Duration: 01:30Published
It apparently didn't take long for Jason Kelce to find work in retirement -- the Philadelphia Eagles great is reportedly joining ESPN's "Monday Night Countdown".. TMZ.com
Caitlin Clark Selected No. 1 Overall , by Indiana Fever in 2024 WNBA Draft.
The WNBA draft took place on April 15
at the Brooklyn Academy of Music.
The WNBA draft took place on April 15
at the Brooklyn Academy of Music.
Clark, the record-breaking NCAA star who's amplified interest in women's basketball, is headed to play with Indiana, ESPN reports. .
Clark, the record-breaking NCAA star who's amplified interest in women's basketball, is headed to play with Indiana, ESPN reports. .
I dreamed of this moment since I was in
second grade, and it's taken a lot of hard
work, a lot of ups and downs, but more
than anything, just trying to soak it in, Caitlin Clark, via statement.
The last time that the Fever won a
WNBA title was in 2012, ESPN reports. .
The last time that the Fever won a
WNBA title was in 2012, ESPN reports. .
But Clark is determined to help the team
"get back to championship habits." .
I'm very lucky to be going there
to an organization that really
loves women's basketball, Caitlin Clark, via statement.
You see it today, I think they had 17,000
tickets claimed to just watch the draft.
I think that shows the excitement in
Indianapolis. It's a great basketball city, Caitlin Clark, via statement.
For myself, I can't imagine a more perfect
fit, a better place for me to start my
professional career, an organization that
really just believes in women's basketball
and wants to do everything the right way. , Caitlin Clark, via statement.
So I couldn't be more
excited to get there, Caitlin Clark, via statement.
Other top WNBA picks include
Cameron Brink and Rickea Jackson,
who are headed to the Los Angeles Sparks.
Other top WNBA picks include
Cameron Brink and Rickea Jackson,
who are headed to the Los Angeles Sparks.
and Kamilla Cardoso and Angel Reese,
who will play with the Chicago Sky.
and Kamilla Cardoso and Angel Reese,
who will play with the Chicago Sky
Credit: Wibbitz Top Stories Duration: 01:31Published
Ex-Ohtani Interpreter , Likely to Face Federal Charges, Sources Say.
NBC reports that Shohei Ohtani's former interpreter
may face federal charges in connection with a
gambling investigation into a California bookie. .
According to sources, Ohtani has
been assisting with the investigation.
The news from NBC follows a similar report by TMZ
that Ippei Mizuhara, the former Ohtani interpreter,
will be facing charges by federal authorities.
On March 21, Mizuhara was fired by the L.A. Dodgers
after attorneys representing Ohtani alleged
"massive theft" had occurred related to sports gambling.
On March 21, Mizuhara was fired by the L.A. Dodgers
after attorneys representing Ohtani alleged
"massive theft" had occurred related to sports gambling.
In response, Major League Baseball , opened an investigation. .
On March 25, Ohtani made his first public comments on
the matter, saying that he had been betrayed and lied to,
while denying any involvement in gambling.
I’m very saddened and
shocked that someone
who I trusted has done this, Shohei Ohtani, via NBC.
Ippei has been stealing
money from my account
and has told lies, Shohei Ohtani, via NBC.
NBC reports that Mizuhara is both Ohtani's
interpreter and long-time friend who has had
a constant presence beside the baseball phenom.
The scandal, involving over $4.5 million in wire transfers
from Ohtani's account, was brought to light
following reports by ESPN and the 'Los Angeles Times.'
Credit: Wibbitz Top Stories Duration: 01:30Published
BuzzFeed News , CEO Says the Outlet , Will Close Down .
On April 20, BuzzFeed News announced
that the once-iconic media brand
will be shutting down. .
The Daily Beast reports that CEO
Jonah..
Credit: Wibbitz Top Stories Duration: 01:30Published
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