KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Walt Disney is planning to cut up to 1,000 jobs, as part of a broader effort to streamline operations and reduce costs, according to reports.
Job Cuts Target Marketing Division
The layoffs, which represent less than 1% of Disney’s workforce, are expected to occur in the coming weeks, with a significant portion impacting the marketing department.
As of fiscal 2025, Disney employed approximately 231,000 staff globally, highlighting that the cuts are relatively modest in scale but strategically targeted.
Strategic Shift Under New Leadership
The restructuring initiative was reportedly set in motion before CEO Josh D'Amaro took over in March, suggesting it is part of a longer-term efficiency plan.
A key component of the strategy involves centralising marketing operations under a unified structure.
New Chief Marketing Officer Asad Ayaz is leading the initiative, known internally as “Project Imagine”, aimed at:
- Reducing overlapping functions
- Improving efficiency across divisions
- Lowering overall marketing costs
Cost Discipline Amid Industry Pressures
The move reflects broader trends across the media and entertainment industry, where companies are focusing on:
- Cost optimisation
- Operational efficiency
- Improving profitability in streaming and content segments
While the layoffs are relatively small, they signal Disney’s continued emphasis on margin improvement and organisational restructuring.
Investor Takeaways
- Disney plans to cut up to 1,000 jobs, primarily in marketing.
- The layoffs represent less than 1% of total workforce, indicating a targeted restructuring.
- The initiative aligns with broader efforts to centralise operations and reduce costs.
- New leadership is focusing on efficiency and profitability improvements.
- The move reflects ongoing industry-wide pressure to streamline operations.
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