Report: Disney to Lay Off Thousands of Employees Starting Next Week
The Walt Disney Co. will reportedly swing the ax again next week in what is expected to be the company’s largest massacre so far this year. Thousands of jobs are on the chopping block as part of the woke company’s ongoing round of layoffs that will see a total of 7,000 workers lose their jobs.
The cuts will include Disney’s TV, movie, theme parks and corporate teams, affecting every region where Disney operates, unnamed sources told Bloomberg News. Some workers will be notified of their layoffs as early as Monday. In all, Disney will eliminate about 15 percent of the staff in its entertainment division, which includes movie and TV production as well as streaming.
EXCLUSIVE: Walt Disney plans another big round of job cuts next week, eliminating thousands of positions, including about 15% of the staff in its entertainment division https://t.co/GmFNiOdb8i
— Bloomberg (@business) April 19, 2023
Disney has already begun laying off employees, dispatching dozens of employees from high level executives — including several big names at ABC News — to rank-and-file workers in the trenches.
Disney CEO Bob Iger announced earlier this year his plan to to eliminate 7,000 jobs as part of his effort to save $5.5 billion in annual costs. The layoffs come after a disastrous 2022 that saw the company’s stock plunge 44 percent and profitability take a surprising hit, resulting in the firing of then-CEO Bob Chapek.
As Breitbart News reported, Disney executives expect to spend around $30 billion on consumer content in 2023 — virtually the same as in 2022. Much of the company’s woke content is tanking with consumers, with expensive new Marvel and Star Wars streaming shows failing to gain much traction with subscribers, many of whom would rather watch old episodes of The Simpsons.