Disney’s TV Unit Will Lay Off 2 Percent of Workforce and 2 Other Dow Movers to Watch
Walt Disney Co. (NYSE:DIS): Current price $61.13
On Wednesday, Walt Disney’s ABC television division began laying off some 175 employees, or 2 percent of its workforce, to conform to changes in tech and viewing habits, according to a Reuters source. The action was initiated by a companywide review to examine cutbacks in jobs that Disney no longer needs either due to improvements in tech or redundancies after a series of major acquisitions during the past few years, according to the publication.
JPMorgan Chase & Co. (NYSE:JPM): Current price $51.73
A Bloomberg source says that William Cruger, an investment banker focused on securities industry deals for JPMorgan, exited the firm in June. The Financial Industry Regulatory Authority’s website also indicates that he is no longer with the firm, but that Cruger was registered as an employee of JPMorgan since 1997, the publication reports
Caterpillar Inc. (NYSE:CAT): Current price $82.96
Caterpillar said Wednesday that three longtime vice presidents — Steve Fisher, Steve Larson, and Bill Rohner — have decided to retire. Selecting from veteran company leaders and executives having outside expertise and experience, the board has appointed four new vice presidents, and Caterpillar is also modifying responsibilities for other vice presidents, according to a company release. These moves are in line with the company’s strategy and will add to the depth of its executive leadership ranks.