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.
Disney just announced 7,500 layoffs and $5.5 billion in budget cuts.
If they want to continue dubbing on wake, that’s their choice. But I hope they are ready to go bankrupt. https://t.co/7mZqLyXrjC
— CJ Pearson (@thecjpearson) February 11, 2023
Disney+ lost 2.3 million subscribers in the first quarter of 2023
In just one week, DirectTV lost over 7 million users
Both are good starts. Let’s continue to put up with their businesses.
— Ryan Fournier (@RyanAFournier) February 11, 2023
Perhaps the most disturbing business trend I have seen in the last 5 years is the destruction of children’s innocence by Disney and other woke corporations in an attempt to validate the extreme life choices of a few far-left adults. pic.twitter.com/ntKksQjBNN
— Scott Mason (@hypnoksa) February 11, 2023
As long as Disney continues to push race and LGBT issues, it will continue to lose money and customers.
They choose this fate.