LOS ANGELES - Disney Chief Executive Officer Bob Iger told employees Monday that he will not be removing the company’s hiring freeze as he reassesses its cost structure.
Iger fielded questions from Disney employees during a private town hall event and discussed multiple issues facing the company.
Iger said the ongoing hiring freeze "was a wise thing to do in terms of the challenges, and at the moment, I don't have any plans to change it," according to FOX Business.
During the question-and-answer portion of the meeting, he also fielded a question about Disney making acquisitions in the near term and told employees "don't expect any headlines soon about deals."
In a memo sent to employees earlier this month, then-Disney CEO Bob Chapek said the company would be moving forward with prioritizing cost-saving measures including "some staff reductions." The move came following a disappointing quarter, FOX Business reported.
Disney CEO Robert Iger visits FOX Business Network's "Markets Now" at FOX Studios on September 24, 2013 in New York City. (Photo by Michael Loccisano/Getty Images)
"I am fully aware this will be a difficult process for many of you and your teams," Chapek wrote. "We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time."
On Monday, Iger shared his joy to be back with the company, writing on Twitter, "Filled with gratitude and excitement to be back with Walt Disney Co."
Disney announces Bob Iger will replace Bob Chapek
The town hall comes on the heels of Disney’s announcement last week that Iger would replace Chapek, who stepped down from the position after three years with the company.
In a news release, Disney said Iger's appointment was effective immediately and would last for two years. Iger has been tasked by the board to "set the strategic direction for renewed growth and to work closely with the board in developing a successor to lead the company at the completion of his term," the release said.
"We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic," said Susan Arnold, Chairman of the Board, in a statement.
Iger served as CEO of Disney from 2005 to 2020 and helped build Disney into one of the world's most successful and admired media and entertainment companies with a strategic vision focused on "creative excellence, technological innovation, and international growth," Disney said.
He also expanded Disney’s legacy with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox.
Walt Disney parks raise ticket prices
Earlier this month Disney announced the company would be raising the price of admission to visit its theme parks – Magic Kingdom, EPCOT, Disney's Hollywood Studios, and Disney's Animal Kingdom – in December, and that ticket pricing will vary by theme park and demand. Magic Kingdom will be the most expensive park to visit, Disney said.
Starting on Dec. 8, 2022, when the resort implements its park-specific pricing on 1-day, 1-park tickets, ticket prices will range from $109 to $189, depending on the date and park.
FOX 35 Orlando and FOX Business contributed to this story.