Disney is cutting up to 7,000 jobs

Disney destroyed its own brand and is now suffering the consequences.

The company embraced the awakened left and now many people who would otherwise go to their cinemas and visit their theme parks are abandoning them.

For decades, Disney was seen as a family business. Now it seems they intend to push through a progressive agenda.

It’s already costing them their jobs.

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Variety Reports:

Disney Cuts 7,000 Jobs or 3% of Workforce, Plans to Cut Total Costs by $5.5 Billion

Bob Iger is back as Disney CEO — and he’s swinging an ax.

Disney will cut its workforce by 7,000 in an effort to cut costs, Iger said Wednesday on the company’s earnings call for the quarter ending in 2022. That figure represents 3.2% of Disney’s total workforce of approximately 220,000 worldwide as of October 1, 2022.

The layoffs are part of Disney’s efforts to achieve about $5.5 billion in cost savings. Of that, $2.5 billion represents “non-content costs” (including labor costs), and $1 billion of those targeted cost reductions are already underway, Iger said. Disney is targeting a $3 billion annual reduction in non-sports content costs, which is expected over the next few years, Disney CFO Christine McCarthy told analysts.

Of the $2.5 billion in non-content spending, about 50% is marketing spending; 30% represents labor costs; and 20% represents technology, procurement and other costs, McCarthy said. Disney expects those savings to be “fully realized” by the end of fiscal 2024.

Iger said that he did not take the decision to cut jobs lightly. “I have tremendous respect and gratitude for the dedication of our employees around the world,” he said.

The company is doing it to itself.

As long as Disney continues to push race and LGBT issues, it will continue to lose money and customers.

They choose this fate.

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