Disney's Iger: Hiring freeze stays for now; Apple merger talk 'speculation' (updated)
Charley Gallay

A hiring freeze at Walt Disney (NYSE:DIS) will remain in place for now, once-again CEO Bob Iger told employees in his first big address to them since reclaiming the top executive job from onetime successor Bob Chapek, according to media reports.
Iger was tapped by Disney's board to retake control of management just over a week ago, and by last Wednesday had said he would hold a companywide town hall after the Thanksgiving break to answer questions.
The meeting is reportedly Q&A-heavy so far. CNBC notes Iger kicked it off by quoting the song What'd I Miss? from the musical Hamilton: âThere is no more status quo. But the sun comes up and the world still spins.â
Jumping into employee questions, he noted the hiring freeze would stay put - for now - and that he will reassess Disney's cost structure.
He also gave a nod toward the importance of making the streaming business profitable - not simply growing subscribers - and said Disney employees need to be skeptical about the future of linear television (still a big part of Disney's business).
And facing a question of a potential merger with Apple (NASDAQ:AAPL), Iger reportedly said that was "pure speculation."
Disney stock (DIS) was down 2.5% midday Monday as part of a broadly lower stock market.
Among the cost-structure moves Iger is already making is a heavy restructuring of the company's distribution wing, with the departure of DMED chief Kareem Daniel.
Updated 12:52 p.m.: There's been heavy discussion over the past week about whether Iger would rethink Disney's structure with a splashy acquisition or merger deal, but he's told employees in the town hall that he's "comfortable" with the company's current assets. With the meeting wrapped up, Disney stock is down 2.4%.