Disney used to be a company that catered to families and held traditional American beliefs, but like so many corporations in recent years, it has embraced the far left.
That decision is starting to have a serious and negative effect on their bottom line.
Millions of Americans have had it with the progressive political indoctrination that has infested entertainment and they are abandoning Disney and other companies like them.
Disney is now preparing to lay off thousands of workers as a result.
Disney Layoff Rounds Likely Starting Before Annual Meeting; Details On Cuts Emerge
With Disney’s April 3 shareholder meeting — a virtual affair this year — less than two weeks away, some clarity is emerging about the company’s plans to reduce staff and cut costs.
Insiders tell Deadline that multiple rounds of cuts are being prepared. The first one is being targeted for late March, likely next week, we hear. (March 30 or March 31 have been floated as possible dates, but that has not been confirmed.) According to sources, there will be a big wave in late April, described as “the big one” or a “bloodbath,” when a large portion of the cuts are expected to come.
Information varies on a potential third round of layoffs. Some say it might come between the one in late March and the one in late April, while others note that it could follow the one in late April if it’s deemed necessary. Disney declined to comment.
Senior Disney executives have been hashing out specifics of the reductions in recent weeks. We hear that most managers already have submitted their layoff target reports, the step corporations take before a major workforce culling.
CEO Bob Iger revealed the scope of the cuts during the company’s February 8 quarterly earnings call with Wall Street analysts. Plans to let go of 7,000 staffers, roughly 3% of the company’s global workforce, are “not being taken lightly,” Iger said. The paring down of employee rolls is a cornerstone of the effort to reach $5.5 billion in overall cost savings.
It’s important to remember that Disney did this to themselves. This was a choice.
Disney managers told to identify layoff candidates, with 4K job cuts expected by April: reporthttps://t.co/Mas34CCX8W
— FOX Business (@FoxBusiness) March 18, 2023
Disney set to lay off first wave of 4,000 employees within weeks https://t.co/UihgF7hb5H
— Daily Mail Online (@MailOnline) March 20, 2023
The reduction comes as Disney enacts a company-wide plan to save $5.5 billion in costs. https://t.co/itson5Tj1O
— KTLA (@KTLA) March 22, 2023
Disney is an iconic American brand, and their current leaders have ruined it over politics.
It’s sad to watch them implode in real time.