Despite Mass Layoffs, Bob Iger Wants to Spend More on Disney

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Mickey and friends - Magic Kingdom - Disney World -

Credit: Disney

During the Walt Disney Company Annual Shareholders Meeting this afternoon, CEO Bob Iger announced that the Theme Park giant would invest as much as $17 billion and add 13,000 Cast Members at Walt Disney World Resort over the next decade.

Rope Dropping at Disney World and Disney Castle on the background
Credit: Inside the Magic

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The Walt Disney World Resort is constantly changing. Walt Disney once said about Disneyland Resort that “Disneyland will never be completed. It will continue to grow as long as imagination is left in the world.” Bob Iger and Disney’s Board of Directors seem to be committed to this vision at Walt Disney World.

At the Walt Disney Company Shareholders Meeting today, CEO Bob Iger received a wide range of questions from concerned owners of Disney stock. One of the final questions on today’s call was about Disney’s recent political battle with Florida Governor Ron DeSantis and what it meant for Disney’s continued investment in Florida.

In response to the question, Iger confirmed Disney’s continued commitment to the state of Florida and the Walt Disney World Resort. Iger would explain a detailed plan to invest over $17 billion into and create 13,000 jobs at Walt Disney World Resort, sharing that 50 million Guests visit the Central Florida Disney Park annually.

Tomorrowland in Magic Kingdom at Walt Disney World Resort
Credit: Disney

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During the call, no other details were given about specific projects or where most of those new Cast Members would be assigned within the Resort over the next ten years.

The announcement is somewhat surprising, as The Walt Disney Company is in the middle of a significant restructuring. In February, Disney CEO Bob Iger announced that around 7000 layoffs were heading to the Walt Disney Company. As of March 27, 2023, Iger has informed his employees that the process has begun.

Just last week, Iger sent a mass email to the company informing those laid off. Starting the message with “fellow employees,” Iger said, “This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions. …A second, larger round of notifications will happen in April, with several thousand more staff reductions. We expect to commence the final round of notifications before the beginning of summer to reach our 7000-job target.”

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