January 31, 2023

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Disney CEO Bob Iger is telling employees to return to the office four days a week

Bob Iger poses with Mickey Mouse during Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles.

Valerie Macon | AFP | Getty Images

Disney CEO Bob Iger told Combination employees Monday that they must return to the company’s offices four days a week starting March 1, according to an email obtained by CNBC.

In the email, Egger stressed the importance of personal collaboration.

“As I have been meeting with teams across the company over the past few months, I have been reminded of the tremendous value of being with the people you work with,” Egger wrote. “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 through Learning from leaders and mentors.

During the pandemic, many companies have opted for work-from-home or hybrid work models that have kept large gatherings of people, and thus the spread of Covid, to a minimum. With vaccination rates rising and cases and hospitalization rates declining, companies like Disney have scrambled to get employees back into offices and back to a more normal work environment before the pandemic hit.

Iger’s requirement for a four-day week is relatively strict compared to other large companies, which have opted for two or three mandatory workdays for mixed-race employees. an Apple Assigned employees return to work three days a week in September. Elon Musk, the owner of Twitter, who has been known to sleep as companions to his companies as a show of commitment, has ordered almost all of Twitter Employees are required to return to the office five days a week In November.

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Disney’s new policy comes less than two months after he returned to lead the company, promising a two-year stint that will lead to renewed growth for the company and the development of a successor to replace him.

Iger’s return in November came days after former CEO Bob Chapek made the announcement Plan to reduce costs in the company, which was saddled with inflated costs for the streaming service, Disney+. Iger’s return also comes as legacy media companies grapple with a rapidly changing landscape, as advertising dollars dry up and consumers increasingly cut their cable subscriptions in favor of streaming.

Eger plans to reorganize Disney’s media and entertainment distribution division Oversees the company’s content and distribution. He maintained Chapek’s hiring freeze while he changed the company’s organizational structure to deliver The powers of the budget belong to those who choose the creative projects.

Disney Shares have fallen about 40% over the past year. The company’s market value is estimated at $174 billion.

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