KUALA LUMPUR, April 9 (Bernama) -- Bursa Malaysia closed lower on Thursday following the weaker performance of regional peers. The relief rally spurred by yesterday’s ceasefire quickly lost momentum as investors reassessed the credibility and sustainability of the United States-Iran truce. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 10.07 points to 1,686.24 from Wednesday’s close of 1,696.31. The benchmark index, which opened 3.66 points lower at 1,692.65, moved between 1,680.01 and 1,692.65 during the day. In the broader market, losers trounced gainers 651 to 430, while 540 counters were unchanged, 1,087 untraded and 12 suspended. Turnover eased to 3.05 billion units worth RM2.83 billion from Wednesday’s 3.77 billion units worth RM3.64 billion.
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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