On Monday, Disney began its second wave of layoffs, which brought the number to 4,000 in just the last few weeks.
CNBC reported, “Earlier this year, Disney said it would slash 7,000 jobs from its workforce as part of a larger reorganization of the company that will see it cut costs by $5.5 billion. The announcement was made during Bob Iger’s first earnings call since returning as CEO.”
The 7,000 jobs cut represents 3% of Disney’s 220,000 employees, as reported in October.
Disney Entertainment co-chairmen Alan Bergman and Dana Walden wrote to employees Monday, “The senior leadership teams have been working diligently to define our future organization, and our biggest priority has been getting this right, rather than getting it done fast.”
“The second round of cuts, which will be completed Thursday, will affect various divisions across the company, including Disney Entertainment and ESPN, as well as Disney Parks, Experiences and Products. The jobs affected will span across the country from Burbank, California, to New York and Connecticut,” the CNBC report concluded.
Other cost-cutting measures Iger announced earlier this year include slashing $3 billion in content expenses, while $1 billion in cost-cutting had already commenced starting last quarter.
The news from Disney comes as Florida lawmakers are seeing other ways they can reign in the “woke” company by retroactively canceling a contract granting powers to Disney’s board of governors in the state. The fate of the legislation is still unclear at this time, although if it passes, it could harm Disney.
Remember horseback riding? Involves reins. You don’t “reign in” a woke company, you rein it in. But thanks for this good news.
Disney has lost Walt’s vision of a wholesome family entertainment company… they cater to the liberal fringe of society that contradicts everything Walt envisioned for his company.
I will not take my family to any of Disney locations, as a matter of fact that includes the State of California.
Great news!