Stocks
Disney Announces Major TV Division Restructuring Amid Shift to Streaming
The Walt Disney Company has announced a significant restructuring of its television division, led by CEO Josh D'Amaro. This move involves layoffs of around 1,300 employees, including those in human resources and IT.
The company is aiming to streamline operations and enhance its streaming services, which are becoming increasingly important in the entertainment industry. Disney's previous rounds of workforce reductions have totaled up to 2,000 positions since D'Amaro took over as CEO.
Disney is currently trading at $101.33 per share, which is approximately 14.1% below its estimated intrinsic value of $117.91. This suggests that the stock is modestly undervalued, according to GuruFocus' GF Value metric.