: Disney CEO Bob Iger wants employees to return to the office four days a week

by | Jan 9, 2023 | Stock Market

Walt Disney Co. Chief Executive Bob Iger wants hybrid employees to return to the office four days a week, and soon. “Starting March 1, employees currently working in a hybrid fashion will be asked to spend four days a week on-site, targeting Monday through Thursday as in-person workdays,” Iger said in an internal email obtained by MarketWatch. 

The edict, just weeks after Iger took over Disney
DIS,
+0.91%
from ousted CEO Bob Chapek, is the latest from a high-profile executive asking employees to return to the office at least three days a week. Last month, Snap Inc.
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CEO Evan Spiegel said the company expects employees to spend at least 80% of their time in the office beginning in February, according to an internal memo. Alphabet Inc.’s
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+0.78%
 
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Google, Apple Inc.
AAPL,
+0.41%,
Twitter Inc. and JPMorgan Chase & Co.
JPM,
-0.41%
have made similar requests. “As you’ve heard me say many times, creativity is the heart and soul of who we are and what we do at Disney. And in a creative business like ours, nothing can replace the ability to connect, observe and create with peers that comes from being physically together, nor the opportunity to grow professionally by learning from leaders and mentors,” Iger wrote in the email. Iger is overseeing a hiring freeze and a taking closer look at Disney’s bottom line primarily because of escalating expenses at Disney+, the company’s streaming service. The two-time Disney CEO also intends to reorganize Disney’s Media & Entertainment Distribution division. In his email, Iger also noted that for the seventh straight year, Walt Disney Studios was the No. 1 studio at the box office, and that “Avatar: The Way of Water” last week became the seventh-highest grossing film of all time. Shares of Disney rose 1% in trading Monday.

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