The Wall Street Journal Reported Late Thursday, Disney Laid Off Beijing Streaming Technology Team Ahead of Iger Meeting With Head of China-Focused Congressional Committee
Portfolio Pulse from Charles Gross
Disney has reportedly laid off its Beijing streaming technology team ahead of a meeting between CEO Bob Iger and the head of a China-focused Congressional Committee. The move comes amid increasing scrutiny of Disney's operations in China.

September 22, 2023 | 8:51 am
News sentiment analysis
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NEGATIVE IMPACT
Disney's decision to lay off its Beijing streaming technology team could potentially impact its operations in China and its overall business strategy.
The layoffs could potentially disrupt Disney's operations in China, a key market for the company. This could negatively impact its business strategy and future growth prospects in the region.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
As an ETF that tracks the performance of the largest companies in China, FXI could be indirectly affected by Disney's layoffs in Beijing.
Disney's layoffs could potentially signal a broader trend of US companies reducing their operations in China, which could negatively impact the performance of FXI.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
As an ETF that tracks the S&P 500, SPY could be indirectly affected by Disney's layoffs in Beijing due to Disney's significant weight in the index.
Disney's layoffs could potentially impact its stock price, which could in turn affect the performance of SPY due to Disney's significant weight in the S&P 500 index.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50