Job

2023 - 2 - 8

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Image courtesy of "World Economic Forum"

Now could be the perfect time to find a new job in the US (World Economic Forum)

There are twice as many job openings in the US as unemployed people, and a survey shows that around half of job seekers are getting hired within a month.

She's finding it hard to land a job in part because she's seeing jobs advertised that want many years of experience for an entry-level position. "If I could have had a crystal ball and seen what six months later was going to be like, I wouldn't have done it," Kristen said. "Right now we see that workers still have a lot of bargaining power," Cory Stahle, an economist at Indeed, told Insider in January. In the thriving labor market, people aren't staying out of work for long. While the time workers stay unemployed has dropped, the number of workers quitting their jobs continues to skyrocket. "As of the December report, leading recession indicators in the jobs report were looking worrying," Pollak said. "If I was a job seeker I would think this is still a job seekers' labor market," Nick Bunker, economic research director for North America at Indeed Hiring Lab, told Insider. The US saw 517,000 jobs added in January and the unemployment rate is at the lowest point in over 50 years. "Despite recession fears, it appears to be the best job seeker's market in over 50 years," she said. But this is still very much a labor market that's giving lots of advantages to people who are looking for new work." "Business is business, so I understood that sometimes for the sake of being able to go forward, businesses do have to make these choices," Lazenby said. She isn't the only recent job seeker who has rapidly found a new role.

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Image courtesy of "pna.gov.ph"

Ilocos Norte job fair to offer 3K vacancies on Feb. 11 (pna.gov.ph)

LAOAG CITY – The Ilocos Norte government through its provincial employment service office is inviting job seekers to participate in the Feb.

at the provincial capitol auditorium, where job seekers will have a chance to meet employers and get hired on the spot LAOAG CITY – The Ilocos Norte government through its provincial employment service office is inviting job seekers to participate in the Feb. Atuan, manager of the Public Employment Service Office (PESO), said in an interview Wednesday that the whole-day event will be held from 9 a.m.

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Image courtesy of "Manila Bulletin"

60 companies join Parañaque mega job fair (Manila Bulletin)

The city government of Parañaque conducted a mega job fair on Tuesday, Feb, 7, at the activity center of Ayala Malls, Manila Bay in Barangay Tambo.

Melanie Soriano-Malaya and the Public Employment Service Office (PESO). Olivarez said the mega job fair was supported by his brother, 1st District Representative Edwin Olivarez, and the Department of Labor and Employment (DOLE). According to Mayor Eric Olivarez, the mega job fair is part of the various activities prepared by the city government in celebration of the 25th cityhood anniversary on Feb.

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Image courtesy of "Business Insider"

Great Resignation regret: Meet a woman who regrets quitting her job (Business Insider)

Kristen is one of the millions of people in 2022 who quit their jobs. But without a new job yet, she has some Great Resignation regret.

I wish I would've found a different first job. "Despite a slowdown in hiring, there are still plenty of opportunities out there," Andrew McCaskill, a career expert at LinkedIn, told Insider in a statement. More than 40% of companies on LinkedIn explicitly rely on skills to search and identify job candidates on LinkedIn, so job seekers can stand out by making sure they not only have the most sought-after skills, but also that they're showing them off." And I would love to say I feel better about it now, but I don't." Have you made a recent career switch? And then I would say right about the time that we hit holiday season, it's just gotten to the point where it's depressing. "I wish I would've graduated at a different time. I wish I would've not quit my first job," Kristen said. "It's disheartening in so many different ways because you're not hearing back from people." She's had a few interviews and has applied to roles through various sites. But she wasn't feeling too hopeful after seeing "While I don't regret leaving a working environment that was harmful to me, I wish that I would've been more realistic about how soon I would be able to find a job," Kristen said.

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Image courtesy of "Politico"

Biden urges GOP lawmakers to 'finish the job' and takes a few ... (Politico)

President Joe Biden used Tuesday night's State of the Union to urge a newly divided Congress to “finish the job” to help the nation through a series of ...

A year ago, in the wake of a surge of violent crime, Biden emphatically declared, “We should all agree the answer is not to defund the police. But that brought another uproar from Republicans, including a shout at Biden of “it’s your fault” about the fentanyl death. Biden vowed to veto any efforts to raise the price of prescription drugs, which his Inflation Reduction Act lowered for Medicare beneficiaries. The new Speaker has already delivered his objections on both, setting up standoffs on issues that Biden has declared essential to the future of democracy at home and abroad. Any State of the Union is of the moment, reflecting a nation’s internal strife. Though some of his criticisms of the GOP were implicit, Biden made direct calls in his speech for partisan politics to be set aside for two important priorities: lifting the federal debt ceiling and continuing to fund Ukraine in its defense against Russia. It was, they noted, a “unity agenda” similar to the approach that Biden took during his 2020 campaign, where he tried to avoid the daily political firestorms engulfing Trump, pledged to make politics less omnipresent in everyday life, all while allowing his Republican opponent to self-immolate. He made a renewed push on pieces of legislation — including an assault weapons ban, police reform and protections for abortion rights — that polling suggestions are broadly popular with the American people, including the independent and swing voters who usually decide elections. At times, Biden seemed to take delight in ribbing lawmakers on the other side of the aisle — wearing a Cheshire cat grin when he did so. As he spoke, a symbol of the new fault lines in Washington appeared just over Biden’s left shoulder. “We’ve been sent here to finish the job.” He received applause on occasion but also jeers from some of the newly emboldened Republicans, who accused him at times of lying about their desire to cut entitlement programs.

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Image courtesy of "NPR"

Biden makes a pitch to 'finish the job' in his State of the Union address (NPR)

President Biden repeated the phrase "Let's finish the job" in his address — a refrain likely to be heard as his unofficial pitch for a second term in ...

"So, folks, as we all apparently agree, social security and Medicare is off the books now," Biden said, after a feisty exchange with some Republicans in the audience. McCarthy has said those entitlement benefits aren't on the chopping block, but he has insisted on cuts to future spending in exchange for raising the debt limit. "Already, we've funded over 20,000 projects, including major airports from Boston to Atlanta to Portland," he said. In one of the most testy moments of the evening, he warned that some Republicans wanted to cut Medicare and Social Security in exchange for raising the debt limit. With newly-elected GOP House Speaker Kevin McCarthy sitting over his shoulder, Biden urged Congress to pass a lengthy list of his unfinished priorities. Biden, the oldest president in U.S.

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Image courtesy of "PBS NewsHour"

Powell predicts 'significant' inflation drop but job market strength ... (PBS NewsHour)

Federal Reserve Chair Jerome Powell said Tuesday that last week's blockbuster U.S. jobs report showed it would likely take time to curb high inflation but ...

On Friday, the government issued a surprising blowout jobs report that suggested that the economy and hiring were even healthier than Fed officials thought. Powell’s remarks Tuesday followed the moderately optimistic note he struck at a news conference last week. At the same time, Powell said the job market’s strength and the persistence of inflation pressures mean that the Fed will need to keep raising its benchmark interest rate this year.

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Image courtesy of "Rappler"

Fed's Powell says job strength shows inflation fight may last 'quite a ... (Rappler)

'Our job is to get inflation down to 2%,' a process that US Federal Reserve Chair Jerome Powell says is still just getting started.

“And I would expect that would translate into us raising interest rates more than I have projected right now.” Bostic had previously forecast that the federal funds rate would top out in the 5%-5.25% range, like almost all his colleagues. And that’s been the biggest fear for participants in the market that with all the rate increases that in the Fed’s view no real progress is being made against inflation,” said Rick Meckler, a partner with Cherry Lane Investments in New Vernon, New Jersey. Stock investors, meanwhile, focused more on Powell’s faith in the progress being made so far in the fight against inflation, a view that helped add to the market’s recent upswing. As of December, the Fed’s preferred measure of inflation was increasing at a 5% annual rate, still more than double the Fed’s target. Our job is to get inflation down to 2%,” a process that he said was still just getting started and would likely take until at least into next year. In the meantime interest rates will continue to rise, though how high remains unclear, with Powell’s remarks moving little beyond the comments he made after last week’s Fed policy meeting.

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Image courtesy of "Forbes"

Starting A Job After A Lengthy Absence? Here's What You Need To ... (Forbes)

While employers have made great strides in granting candidate requests to address the ever-evolving employment landscape, employees still wonder: What can I ...

This year and beyond, newcomers will join the workforce with more requirements and expectations that employers will strive to meet. With the help of Social Security-approved Employment Networks like AES, SSDI beneficiaries can return to work if they are medically able. In the first year, the Trial Work Period, they can earn unlimited income and still retain SSDI benefits. SSDI is a lifeline for people who find they can no longer work due to their condition or disability. These taxes help qualify an employee for Social Security Disability Insurance (SSDI) benefits if they find they are no longer able to work because of a severe illness or disability. That’s great news for us at Allsup Employment Services (AES) because it’s our mission to help people get back to work after a serious illness or injury.

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Image courtesy of "The Guardian"

'Pride is coming back': Biden touts victories on jobs and climate in ... (The Guardian)

President also calls on Republicans to help him 'finish the job' of rebuilding the economy and restoring faith in democracy. The State of the Union address ...

We’ve been sent here to finish the job, in my view.” “Let’s commit ourselves to make the words of Tyre’s mother come true: something good must come from this,” he said. Sanders, currently America’s youngest governor at 40, attacked Biden over inflation and accuse Democrats of waging a “leftwing culture war” against average Americans, according to excerpts of her prepared remarks. Republicans have demanded government spending cuts in exchange for raising the debt ceiling, but Biden has insisted on a “clean” bill to raise the nation’s borrowing limit with no strings attached. One of the most disruptive moments came when Biden charged that Republicans wanted to “sunset” social security and Medicare, popular retirement and health insurance programs for seniors, as part of their efforts to reduce the deficit. The president boasted about the successes of the international coalition the US helped marshal to help Ukraine defends itself against Russia’s invasion. Touting a new $35 cap on insulin for Medicare recipients, he said legislators should go further and extend the rule to cover all Americans. He said: “Make no mistake: if you try to do anything to raise the cost of prescription drugs, I will veto it.” The outcry persisted, and Biden teased that he won Republican assurances that the programs would be protected. [Democrats](https://www.theguardian.com/us-news/democrats), who had hoped the speech would dispel concerns about Biden’s age and fitness for office as he looks ahead to a re-election campaign. He also pointed to signs of a brightening economic outlook, easing inflation and the country’s unemployment rate, which But to ensure progress continues, Biden argued, he would need support from the very Republican House majority eager to unravel his agenda and undermine his political prospects as he prepares to seek a likely second term.

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Image courtesy of "ZDNet"

New job? Here are 5 ways to make a great first impression (ZDNet)

You'll need to show people quickly how you're going to make a positive impact in a new role. Here's how.

Because if you do that, how are you going to understand what the issues are and what the perception of your team is? "The first thing I would do moving into any new role is to meet as many people as possible," he says. But you must also understand what the senior guys are trying to achieve and link those aims together." Coming into a new role and treating everyone in the same way is a shortcut to failure. "Success there is about not just projecting what you want people to hear. "Creating some clarity around that role, so that people understand what you're going to focus on, is key.

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Image courtesy of "Forbes"

Don't Blame Gen Z, The Boomers Invented Job Title Inflation (Forbes)

A new piece in Insider, the media organization formerly known as Business Insider, looks at job title inflation, blaming Gen Z for wanting a special title ...

Insider, it should be noted, is the media organization formerly known as Business Insider, a change that suggests its own kind of prestige inflation. [two strips launching in 1958](https://paleofuture.com/blog/2015/11/4/the-futuristic-comic-that-turned-the-sunday-funnies-into-a-cold-war-weapon) with the explicit goal of getting kids interested in science. Even the launch of the satellite Sputnik by the Soviet Union in 1957 was to blame, according to the author of the column, Jerry V. Willson took particular issue with truck drivers getting called “professionals” during that wave of job title inflation. “The giant Boeing Company has vice-presidents who also are presidents. That is a commendable objective, but I wish they would just stress quality without the euphemism. Suddenly, the nation forgot about the values of vocational training and of craftsmanship and began to push everyone into higher education,” Willson complained. “No doubt the trucking company is seeking, by fashioning its drivers ‘professionals,’ to instill in them a sense of pride in their job and their work. Sputnik did contribute to a cultural push in the U.S. But blaming kids for job title inflation actually started when older people of the mid-1970s saw the younger generation getting titles some thought they didn’t deserve. There was even a campaign to make the Sunday newspaper comics more tech-heavy, with A new piece at Insider looks at job title inflation, blaming Gen Z for wanting a special title to make themselves feel more important than they are.

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Image courtesy of "The New York Times"

Biden to Lay Down Economic Challenge in State of the Union Address (The New York Times)

In his first State of the Union address since the G.O.P. took the lower chamber, the president will call for higher taxes on the wealthy and more social aid ...

[an increase in the debt ceiling](https://www.nytimes.com/2023/02/01/us/politics/biden-mccarthy-debt-limit.html). [most Americans are not satisfied with his leadership](https://projects.fivethirtyeight.com/biden-approval-rating/?ex_cid=rrpromo) and [even most Democrats would prefer that someone else run for president in 2024](https://www.washingtonpost.com/politics/2023/02/05/poll-biden-trump-2024/). “But at the same time, he’ll draw some clear lines of things he’s not prepared to do.” Biden nonetheless will also put forward the latest elements of what aides call his “unity agenda,” a menu of policy proposals that presumably could attract bipartisan support. Among them will be Oksana Markarova, the Ukrainian ambassador to the United States; Bono, the singer who has championed AIDS treatment; and Paul Pelosi, the husband of former Speaker Nancy Pelosi, who was Biden has invited carefully chosen guests to join the first lady, Jill Biden, in the House gallery to make political points. But the speech and the G.O.P. “No drawing lines in the sand or saying, ‘It’s my way or the highway.’ No policy gimmicks or political games. In his first State of the Union address since the G.O.P. At the time, Mr. Biden would call on lawmakers on both sides of the aisle to rally around his economic agenda, even as the newly empowered opposition gears up to try to force him to change direction. No one expects the Republicans now running the House to embrace Mr.

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Image courtesy of "Wisconsin Public Radio News"

President Joe Biden to speak about job creation near Madison (Wisconsin Public Radio News)

Biden will give remarks at the Laborers' International Union of North America training center in DeForest. He is expected to speak about creating "good-paying, ...

A new Associated Press-NORC Center for Public Affairs Research [poll, released earlier this week, found](https://thehill.com/homenews/campaign/3845238-just-37-percent-of-democrats-want-biden-to-seek-second-term-survey/) that only 37 percent of Democrats want to see Biden run for a second term. "I expect we'll see a lot more of him in the months and years to come." "He has to turn around his political fortunes here.” He's also expected to focus on his economic, environmental and infrastructure record in the state so far. He is expected to speak about creating "good-paying, union jobs" and other aspects of his economic plan, according to a statement from the White House. The president's going to come to Wisconsin more for one reason: He has to"The president's going to come to Wisconsin more for one reason: He has to," Schimming said.

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Image courtesy of "The Manila Times"

Biden to US Congress: 'Finish the job' (The Manila Times)

WASHINGTON, D.C.: President Joe Biden exhorted the United States Congress on Tuesday night to work with him to 'finish the job' of rebuilding the economy ...

With Republicans now in control of the House, and even meeting the government's fiscal obligations far from certain, Biden is turning his focus to implementing those massive laws and making sure voters credit him for the improvements. "You wonder whether the path even exists anymore for your children to get ahead without having to move away," Biden said. But the challenges for Biden are many, including economic uncertainty, a wearying war in Ukraine, and growing tensions with China. "The people sent us a clear message. As the 80-year-old leader prepares for a likely reelection bid, he sought to prove to a skeptical nation that his stewardship has delivered results both at home and abroad. "Folks, the story of America is a story of progress and resilience.

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Image courtesy of "MarketWatch"

Biden's State of the Union: 'Let's finish the job,' president says again ... (MarketWatch)

President Joe Biden uses one line a whole lot as he delivers his State of the Union address on Tuesday night to a joint session of Congress.

“Pass my proposal for the billionaire minimum tax.” “Let’s finish the job,” he told the joint session of Congress. Overall, Biden said “Let’s finish the job” at least 10 times, according to the full text of his State of the Union address, as prepared for delivery and

Biden claims green-job surge in State of the Union — is his boast ... (Morningstar.com)

By Rachel Koning Beals. Biden's SOTU climate focus also pushed electric-grid upgrade and an ongoing shift to renewable energy, but the president says oil ...

The group monitored press coverage and company announcements to tally private-sector jobs across a range of sectors that aim to reduce greenhouse-gas emissions. The latest E2 report showed that growth spanned every clean-energy subsector in 2022 when compared to a year earlier. We're going to finish the job," Biden said. By one measure, the estimated likely total pay in the renewable-energy sector is $131,337 per year in the U.S., with an average salary of $96,438 per year, according to Glassdoor. "We're still going to need oil and gas for awhile... What's more, wind and solar jobs tend to offer higher pay than many industries, and the jobs -- like those drilling and processing oil and gas, or maintaining rigs -- pay competitively without necessarily requiring a college degree. Green jobs tend to be created in occupations that pay about 21% more than the average U.S. But research from 2022 shows that most alternative-energy jobs, which have tripled nationwide in just two decades, are concentrated in the states where the fossil-fuel sector long employed residents and juiced local economies. She said her party will continue to monitor how the IRA is spent, adding the law "embraces massive government subsidies and regulations to place unreliable, weather dependent renewables above all other energy sources." It's about growing "green" jobs that will help push the nation toward net-zero greenhouse-gas emissions in coming decades, he said. House Republicans weren't buying the president's jobs spin when it comes to greening the economy. efforts to fight climate change aren't limited to the Inflation Reduction Act's (IRA) rebates for swapping to energy-efficient electric appliances or putting electric vehicles in more American garages, President Joe Biden said Tuesday night.

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Image courtesy of "Fortune"

Middle managers embrace wokeness because it increases their ... (Fortune)

Nicolai Foss of Copenhagen Business School and Peter Klein of Baylor University warn that "woke" culture could be costing companies.

And Bernie Marcus, the billionaire co-founder of [Home Depot](https://fortune.com/company/home-depot/), said in December that “woke people have taken over the world.” Ron DeSantis even put through [legislation](https://www.flgov.com/2021/12/15/governor-desantis-announces-legislative-proposal-to-stop-w-o-k-e-activism-and-critical-race-theory-in-schools-and-corporations/) in 2021 titled Stop the Wrongs to Our Kids and Employees (or “Stop WOKE”), in hopes of combating what he called “corporate wokeness” in his state. “The most diverse companies are now more likely than ever to outperform less diverse peers,” the [McKinsey researchers](https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters) wrote. companies spent $9.3 billion on diversity, equity, and inclusion (DEI) programs in 2022, and by 2026, that number is projected to rise to $15.4 billion to illustrate the rising costs of going woke, according to data from the consulting firm StrategyR. A 2020 [McKinsey](https://fortune.com/company/mckinsey/) study found diverse companies are 35% more likely to see stronger profit margins than their peers. It’s time for management research to inform these debates in a more systematic way,” they wrote. The study’s authors pointed to rising spending on diversity, equity, and inclusion (DEI) programs as an example of other rising costs associated with a woke corporate stance. [article about labor unions](https://books.google.com.au/books?id=3RotAQAAMAAJ&dq=today%20%22Negro%20United%20Mine%20Workers%20official%22&source=gbs_book_other_versions) and has re-emerged in the past decade as a slogan that symbolizes awareness of social issues. [culture war](https://fortune.com/2022/05/06/disney-history-huac-walt-dangerous-culture-wars-florida-roe-v-wade-politics-communications-business-leadership-laurie-hays/). “Wokeness arises from middle managers and support personnel using their delegated responsibility and specialist status to engage in woke internal advocacy, which may increase their influence and job security.” “Nobody works. Saunders Redding in an

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Image courtesy of "The Hill"

The Hill's Morning Report — Biden to GOP: 'Let's finish the job' (The Hill)

The president began the evening by politely recognizing Speaker Kevin McCarthy (R-Calif.) and Senate Minority Leader Mitch McConnell (R-Ky.) and referring to “ ...

[@asimendinger](https://nxslink.thehill.com/click/626331b18edcaa0d1f0f7fc9/aHR0cHM6Ly93d3cudHdpdHRlci5jb20vdGhlaGlsbD9lbWFpbD02YjQ4NGFkNmRmNmRhOWNlYmU5MzllYmUxNTJiNWVhOTI5YTQ3OTEwJmVtYWlsYT1lMDMyMzNkMDZmZmI4MjhhNjRjNzRjNTM3ZTU2MmU4MCZlbWFpbGI9OGMwNGM3YjU0NWIxNDE3NWY4YzgzZTViNGU3ODE2OGE1YmIyYThmNDVkM2E4OTM3MWZkMzE4ZTUzOTA0MjQ2Mw/622f96e38f7ffb67ee5072aaCb5936101) and [@kristinakarisch](https://www.twitter.com/kristinakarisch)) and [ suggest this newsletter to friends](https://nxslink.thehill.com/forward/622f96e38f7ffb67ee5072aa626331b18edcaa0d1f0f7fc9/cfb250b3)! [As The New York Times reports](https://www.nytimes.com/2023/02/07/dining/valentine-candy-hearts.html), for 2023, the Spangler Candy Company — one of two major manufacturers — has chosen an animal theme for its Sweethearts line, with a nod to all the people who acquired pets during the pandemic. COVID-19 deaths are 3,452 for the week, according to the [ Centers for Disease Control and Prevention](https://nxslink.thehill.com/click/27454236.7473/aHR0cHM6Ly9jb3ZpZC5jZGMuZ292L2NvdmlkLWRhdGEtdHJhY2tlci8_ZW1haWw9OGM5NmM4NDYxY2YwZmJkZjIyMDZiOTE2YzdiZmVlNjQ3ZDhjMzlhMyZlbWFpbGE9OTc1YWE4MDI2ZjM0MjE5OWVjNjc3ZTM1Njg0OTM5NTQmZW1haWxiPThkMDZhMmVkYTVkNmMyOTcxMzM0Y2UzY2JlYjRmNWRkN2I2ODQxYmMzMDNmMDc4NTAzMTljNGU5MGQ5NDcwMDQjZGF0YXRyYWNrZXItaG9tZQ/6230d8d9b246d104952e5840B20b3299d). Craft Recreation Center)and at Friendship-West Baptist Church for a roundtable discussion, in both locations to tout the administration’s efforts to lower health care costs. The administration opposes the bill ( James Comer (R-Ky.) after the State of the Union: Santos showing up was “questionable.” George Santos (R-N.Y.) he shouldn’t have attended the State of the Union address, much less positioned himself near the center of the House aisle to shake hands with the president. Ukrainian President Volodymyr Zelensky signed off on an executive order ordering humanitarian assistance to be sent on Tuesday “to help overcome the consequences of the emergency situation” ( Many of the nearly 3.5 million Syrian refugees in Turkey live in areas devastated by the quake ( [CBS News](https://www.cbsnews.com/live-updates/earthquake-turkey-syria-death-toll-rescues-february-7-2023/)). [Here’s a Journal graphic](https://www.wsj.com/articles/tech-layoffs-are-happening-faster-than-at-any-time-during-the-pandemic-11672705089?mod=article_inline) published last month illustrating the downshifting in tech. Securities and Exchange Commission titled “Preparing for the Road Ahead” ( It’s a holdover tradition that began in the 1950s (

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Image courtesy of "CNBC"

Disney to cut 7000 jobs and slash $5.5 billion in costs as it unveils ... (CNBC)

Disney unveiled a vast corporate restructuring, and CEO Bob Iger said the company isn't considering a spinoff of ESPN.

[Iger sent a memo](https://www.cnbc.com/2022/11/21/kareem-daniel-disney-head-of-media-and-chapeks-right-hand-is-out-following-igers-return.html) to employees announcing the business would be reorganized, particularly the Disney Media and Entertainment unit. The goal would be to have a new structure in place in the coming months, with elements of DMED remaining, CNBC reported. "We're not engaged in any conversations or considering a spinoff of ESPN," Iger said on Wednesday. "I have always believed that the best way to spur great creativity is to make sure the people who are managing the creative processes feel empowered." ESPN Chairman Jimmy Pitaro will lead the ESPN segment, while Josh D'Amaro, already the head of Disney's parks, experiences and products segment, will remain in control. Iger addressed speculation that the company may look to spin out ESPN due to the sports network being siloed into its own unit. The announcements also come as Disney engages in a [proxy fight](https://www.cnbc.com/2023/01/17/disney-defends-iger-says-activist-peltz-has-no-track-record-in-big-media-.html) with activist investor Nelson Peltz and his firm Trian Management. [considered contenders](https://www.cnbc.com/2022/12/04/disney-ceo-top-contenders-succeed-bob-iger.html) to take over for Iger in less than two years. That would be about 3% of the roughly 220,000 people it employed as of Oct. Discovery](/quotes/WBD/), have been pulling back on content spending and looking to make their streaming businesses profitable. Heightened competition has led to slowing subscriber growth, and companies have been looking to find new avenues of revenue growth. Disney announced the changes minutes after it

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Image courtesy of "CNN"

Disney plans to cut 7000 jobs and reward shareholders (CNN)

Disney said it would cut 7000 jobs from its global workforce, part of a multibillion-dollar cost-cutting initiative aimed at streamlining the company's ...

Iger announced that he will be combining all its media and content businesses globally, including streaming, into a new segment to be known as Disney Entertainment. Iger said the company is aiming for $5.5 billion of cost savings across the company, with $2.5 billion of that coming from annual savings in “non-content” operations. [(DIS)](https://money.cnn.com/quote/quote.html?symb=DIS&source=story_quote_link) jumped 6% in after-markets trading following the announcement of cost cutting and the return of the dividend. That is far better than the overall market but behind the gains in the same period at some other media companies, such as Netflix [(NFLX)](https://money.cnn.com/quote/quote.html?symb=NFLX&source=story_quote_link) or Warner Bros. Shares of Disney [(DIS)](https://money.cnn.com/quote/quote.html?symb=DIS&source=story_quote_link) lost 43% of their value in 2022, but are up nearly 22% since Iger’s return was announced in November, through Wednesday’s close. Disney cut the marketing expenses for streaming, and also adjusted pricing plans in an effort to attract more profitable subscribers. Disney revenue in the quarter rose 8% to $23.5 billion, edging past estimates of $23.4 billion from analysts surveyed by Refinitiv. “I have enormous respect and appreciation for the talent and dedication of our employees worldwide, and I’m mindful of the personal impact of these changes.” Since Disney is a major advertiser, a $1 billion reduction in annual marketing expenditures signals more difficulties ahead for other media, as well as tech companies. And while initially, it will be a modest dividend, we hope to build upon it over time.” Disney had about 220,000 workers as of October 1, of which approximately 166,000 were employed in the United States. “Now that the pandemic impacts to our business are largely behind us, we intend to ask the board to approve the reinstatement of a dividend by the end of the calendar year,” he said.

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Image courtesy of "Reuters"

Disney to cut 7000 jobs in major revamp by CEO Iger (Reuters)

Walt Disney Co on Wednesday announced a sweeping restructuring under recently reinstated CEO Bob Iger, cutting 7000 jobs as part of an effort to save $5.5 ...

Iger also repositioned the company to capitalize on the streaming revolution, acquiring 21st Century Fox's film and television assets in 2019 and launching the Disney+ streaming service that fall. The cuts took place in the first half of fiscal 2021. Now, Iger will seek to put Disney's streaming business on a path to growth and profitability. Disney said it planned to cut $2.5 billion in sales and general administrative expenses and other operating costs, an effort that is already under way. For the fiscal first quarter that ended on Dec. This marks Disney's third restructuring in five years. Iger also said he would ask the company's board to restore the shareholder dividend by year end. He went on to fortify Disney with a roster of powerful entertainment brands, acquiring Pixar Animation Studios, Marvel Entertainment and Lucasfilm. "We are committed to running efficiently, especially in a challenging environment." Net income came in at $1.279 billion, below analyst estimates. Disney earlier reported its first quarterly Register for free to Reuters and know the full story

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Image courtesy of "The Guardian"

Disney announces 7000 layoffs while teasing Toy Story and Frozen ... (The Guardian)

Cuts represent an estimated 3.6% of Disney's global workforce in effort to save $5.5bn in costs and follow major job losses at other top US companies.

He went on to fortify Disney with a roster of powerful entertainment brands, acquiring Pixar, Marvel and Lucasfilm. A decade later, he repositioned the company to capitalize on the streaming revolution, acquiring 21st Century Fox’s film and television assets in 2019 and launching Disney+ that fall. Disney said it planned to cut $2.5bn in sales and general administrative expenses and other operating costs, an effort that is already under way. Frozen and Frozen II have each earned more than $1bn at the box office, as did Zootopia in 2016, with a sequel expected ever since. “And so we’re in a very interesting transition period, but one, I think, is inevitably heading towards streaming.” There have been four Toy Story films since 1995, and a spin-off, Lightyear, which was mildly received by both audiences and critics.

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Students should be told of university course job prospects, says ... (The Guardian)

Social Mobility Commission says students should be informed of 'earnings implications' of course choices.

“Of course, students may still choose these courses for other valid reasons but they need to be aware of the possible labour market implications,” the report stated. It calculated a “rough estimate” of 31% of students at the four universities being previously eligible for free school meals, based on 2020-21 data. “Many of the more selective universities are top performers for boosting earnings but worst offenders for providing access to students from low socioeconomic backgrounds,” said Alun Francis, the commission’s interim chair.

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Disney to Cut 7000 Jobs as Bob Iger Seeks $5.5 Billion in Savings (Bloomberg)

Walt Disney Co. Chief Executive Officer Bob Iger announced plans for a dramatic restructuring of the world's largest entertainment company, including 7000 ...

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Disney to cut 7000 jobs as CEO Bob Iger seeks "transformation" (CBS News)

The job cuts, about 3% of Disney's global workforce, come months after Iger returned to revitalize the media business.

We will reassess all markets we have launched in and also determine the right balance between global and local content. The layoffs are part of a broader effort by Disney to lower costs by $5.5 billion. Hulu and ESPN+ each posted a 2% increase in paid subscribers during the quarter. 1, Disney employed 220,000 people, of which about 166,000 worked in the U.S. The company said Disney+ ended the quarter with 161.8 million subscribers, down 1% from since Oct. Disney said Wednesday that it earned $1.28 million, or 70 cents per share, in the three months through Dec. Disney has urged shareholders to vote against Peltz, CEO of Trian Partners, according to That compares with net income of $1.1 billion, or 60 cents per share, a year earlier. Analysts were expecting revenue of $23.44 billion. Analysts, on average, were expecting adjusted earnings of 78 cents per share, according to FactSet. Disney is struggling with costs for luring new subscribers to its streaming service, Disney+, amid heated competition from Netflix, HBO and others. As of Oct.

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Disney to cut 7000 jobs as it slashes costs and reorganizes (NBC News)

On Wednesday during its quarterly earnings call with investors, Disney announced it would be cutting $5.5 billion in costs.

[Iger sent a memo](https://www.cnbc.com/2022/11/21/kareem-daniel-disney-head-of-media-and-chapeks-right-hand-is-out-following-igers-return.html) to employees announcing the business would be reorganized, particularly the Disney Media and Entertainment unit. [Chapek’s removal](https://www.cnbc.com/2022/11/21/disney-board-reached-out-to-iger-friday-after-concerns-over-earnings.html) came shortly after Disney had reported its fiscal fourth quarter earnings, [disappointing on profit and certain key revenue segments](https://www.cnbc.com/2022/11/08/disney-dis-earnings-q4-2022.html). The goal would be to have a new structure in place in the coming months, with elements of DMED remaining, CNBC reported. [later reached a deal](https://www.cnbc.com/2022/09/30/disney-reaches-deal-with-activist-investor-third-point-will-add-former-meta-executive-to-its-board.html), after reversing course on its thoughts for the future of ESPN. “I have always believed that the best way to spur great creativity is to make sure the people who are managing the creative processes feel empowered.” Discovery](https://www.cnbc.com/quotes/WBD/), have been pulling back on content spending and looking to make their streaming businesses profitable. ESPN Chairman Jimmy Pitaro will lead the ESPN segment, while Josh D’Amaro, already the head of Disney’s parks, experiences and products segment, will remain in control. That would be about 3% of the roughly 220,0000 people it employed as of Oct. Disney and Third Point Heightened competition has led to slowing subscriber growth, and companies have been looking to find new avenues of revenue growth. Disney announced the changes minutes after it Disney also said it would be eliminating 7,000 jobs from its workforce.

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Bob Iger announces 7000 job cuts as Disney+ loses subscribers (Los Angeles Times)

The earnings report came as Walt Disney Co. faces a challenge from an outsider, billionaire investor Nelson Peltz, who is seeking election to join the ...

After being rebuffed, Peltz embarked on a proxy fight with Disney early this year, encouraging shareholders to vote for him (or his son, Matthew) to join the board and also to vote against current board director Michael Froman, a former U.S. Iger denied speculation that the separating of ESPN would lead to a sale or spinoff. Chapek was abruptly ousted in November by the board of directors, which brought back Iger to run the company for two years. Iger laid out the details of the restructuring Wednesday. After his return, Iger quickly moved to overhaul the company. Iger said the company plans to examine the costs of “everything that we make” in film and TV. The company expects to deliver $3 billion in content savings “over the next few years,” he said. But the effort has proved costly, with billions of dollars spent on movies and TV shows to fill the bottomless pit of demand from online viewers. Disney charged aggressively into the business of streaming video subscriptions, in an effort to stay relevant amid the rise of Netflix. Iger, on the Wednesday call, acknowledged the challenges of competition, pricing and marketing costs. “While this is necessary to address the challenges we’re facing today, I do not make this decision lightly,” Iger said in a conference call with analysts. Netflix, the leader in subscription video, has also taken steps to wrangle costs and increase revenue by introducing advertising and cracking down on password sharing.

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