Disney to Lay Off 7000 Employees as CEO Bob Iger Slashes Spending Amid Profitability Crisis

[PatMiles]

Disney to Lay Off 7000 Employees as CEO Bob Iger Slashes Spending Amid Profitability Crisis

The Walt Disney Co. is eliminating 7,000 jobs worldwide, or more than 3 percent of its workforce, as CEO Bob Iger aims to slash a stunning $5.5 billion in spending in an attempt to save the once formidable company.

www.breitbart.com

The happiest place on Earth is swimming in a sea of red ink and pink slips.


The Walt Disney Co. is eliminating 7,000 jobs worldwide, or more than 3 percent of its workforce, as CEO Bob Iger aims to slash a stunning $5.5 billion in spending in an attempt to save the once formidable company.


Bob Iger announced the cuts Wednesday during Disney’s first quarter earnings report, saying it was not an easy decision to make. “I have enormous respect and appreciation for the dedication of our employees worldwide,” he said. “While this is necessary to address the challenges we face today, I do not make this decision lightly.”

Bob Iger Outlines New Disney Org Structure, With 7,000 Layoffs Planned https://t.co/Acmn7Xw974
— The Hollywood Reporter (@THR) February 8, 2023

Disney employs around 220,000 people worldwide, meaning the layoffs will impact 3.2 percent of the company. The layoffs are expected to hit U.S. employees the hardest, with the “DMED” team — or Disney Media and Entertainment Distribution — bearing the brunt of the cuts.


DMED encompasses Disney’s streaming initiatives, including the Disney+ streaming service. In November, Disney reported that its streaming services lost a mindboggling $1.5 billion in the fourth quarter alone as the company attempted to spend its way to streaming dominance.


Disney’s layoffs are part of a larger media industry bloodbath that has seen competitors including Warner Bros. Discovery, Paramount Global, and Netflix slash their headcount in the face of a weak consumer sentiment brought on by runaway inflation and the prospect of a prolonged economy under President Joe Biden.

The layoffs also come after a disastrous 2022 that saw Disney stock plummet 44 percent — its worst year in nearly five decades. Former CEO Bob Chapek was abruptly fired in November on the heels of the last quarterly report.

Disney’s financial woes come as the company increasingly embraces transgenderism, critical race theory, and other forms of woke politics in its entertainment aimed at children.

As Breitbart News reported, the Disney+ streaming channel series The Proud Family: Louder and Prouder is pushing reparations for slavery, claiming in its latest episode that America was founded on “white supremacy” and “still has not atoned” for its racism.
Last year, the company picked a political fight with Florida Gov. Ron DeSantis (R) over the state’s Parental Rights in Education Law, which forbids the teaching of sexuality and gender theory to kids in kindergarten through third grade

The disastrous skirmish ended up costing Disney its coveted self-governing status in Orlando.

FUCK AROUND AND FIND OUT!!

 

[sirhrmechanic]

Are they going to lay off the patriots or the pedos?

That is the question…

Sirhr

 

[mvphilly]

Bye then and good riddance.

 

[sirhrmechanic]

Something I am trying to figure out… how do some of these tech companies justify such massive payrolls?

Zoom is laying off 1300 or so. 1300 surplus? How the fuck does a company that provides… face to face connectivity have so many employees that it nukes 1300 of them?

Disney? I can see a big payroll in animation, cleaning shitters in parks and hotels… and molesting kids on Disney Cruise ships. But 220,000? What do these people do all day?

Most of disneys assets are media. Stored on servers.

These tech companies seem to be just parking lots for woke socialists… blowing shareholder money. And each other, probably.

Sirh

 

[RUTGERS95]

hahaha, fuk woke Disney

 

[Herb Stoner]

If only .gov would act like a business and do this more to make ends meet…

 

[acudaowner]

lay off employees but keeping all the pervs and snow flakes that wrecked the company yea that makes sense .

 

[Rthur]

If only .gov would act like a business and do this more to make ends meet…

If only there was a business man to put in charge...

R

 

[Merle]

Whatever happened to Mickey Mouse, Snow White, Bambi, and Cinderella?

 

[Carlos Danger]

Good. I hope it fucking implodes.

 

[wade2big]

If only .gov would act like a business and do this more to make ends meet…

Gov’t “employs” 1 out of every 9 working age adults (24,000,000) in this country and that’s if you count the welfare rats separately. Add them in the talley considering they are basically the same with gov’t employees being the worse of the two, and who knows what the final stat would be? 1-7? More?

 

[FWoo45]

Gov’t “employs” 1 out of every 9 working age adults (24,000,000) in this country and that’s if you count the welfare rats separately. Add them in the talley considering they are basically the same with gov’t employees being the worse of the two, and who knows what the final stat would be? 1-7? More?

I agree with you about a lot. Maybe not your delivery, but we’re mostly on the same page. I would disagree that the fat lady at the DMV is worse than a limp dick on the dole that contributes nothing to society or any of his baby mamas that crank out kids that should’ve been aborted for us to pay for. The fat lady at the DMV costs less and does something. I wouldn’t make the same argument about the jack booted kingsmen.

 

[n2ishun]

go woke
go broke

 

[Bullfrog08]

Any company mixing business and politics is a fool! I try very hard not to support these companies that hate me! Ive given up a lot of things I enjoyed, but I wont give my money to my enemy!

 

[Expert684]

go woke
go broke

That’s no joke!

 

[Lightning8]

Something I am trying to figure out… how do some of these tech companies justify such massive payrolls?

Zoom is laying off 1300 or so. 1300 surplus? How the fuck does a company that provides… face to face connectivity have so many employees that it nukes 1300 of them?

Disney? I can see a big payroll in animation, cleaning shitters in parks and hotels… and molesting kids on Disney Cruise ships. But 220,000? What do these people do all day?

Most of disneys assets are media. Stored on servers.

These tech companies seem to be just parking lots for woke socialists… blowing shareholder money. And each other, probably.

Sirh

AI/ML is making many white collar jobs redundant. "Skynet" is coming. The trend is reducing white collar jobs as AI, etc. much better at "spreadsheet" work.

 

[sirhrmechanic]

AI/ML is making many white collar jobs redundant. "Skynet" is coming. The trend is reducing white collar jobs as AI, etc. much better at "spreadsheet" work.

But why were they there in the first place? Seems like instead of returning $$ to investors and shareholders, these places were just padding payrolls and providing make-work for worthless, woke brainwashed college Lesbian Studies and Interpretive Sanskrit Dance majors.

Since Visicalc, noone has been needed to do spreadsheet work...

Sirhr

 

[Lightning8]

But why were they there in the first place? Seems like instead of returning $$ to investors and shareholders, these places were just padding payrolls and providing make-work for worthless, woke brainwashed college Lesbian Studies and Interpretive Sanskrit Dance majors.

Since Visicalc, noone has been needed to do spreadsheet work...

Sirhr

All the CEOs, CFOs, COOs etc. are finally fully embracing the AI/ML surge - it has more to do with cultural and organizational change than technology. You have to break through the "we always did it that way" barrier and there is some courage required to make the change.

 

[BurtG]

would disagree that the fat lady at the DMV is worse than a limp dick on the dole

No.

Half those .gov parasites are getting welfare too.

The welfare rats aren’t wearing out vehicles , requiring office / shop space , causing tax payers to pay out civil suits , killing your dog you etc.

Smfh

F ing .gov parasites the lot of them

 

[sirhrmechanic]

All the CEOs, CFOs, COOs etc. are finally fully embracing the AI/ML surge - it has more to do with cultural and organizational change than technology. You have to break through the "we always did it that way" barrier and there is some courage required to make the change.

But as AI is still really just data analysis and statistics and trend analysis gussied up to look smart, those creating the programs that create "Artificial-looks-like-intelligence" are really going to be the ones who plot the path forward.

I am not pooh-pooing AI. I think it is coming and will be dangerous as hell when it does. But right now, AI is just smoke and mirrors. And if folks think their corporations are going to innovate and run and maintain client relationships, etc. with a spendy Magic 8-Ball, they are on drugs.

Well... they probably are on drugs these days.

It's an interesting discussion! And one the world should be having right now. But, alas, shiny AI will solve everything and make unicorns and rainbows and sparkle farts everywhere... while destroying western economies.

Oh well, AI won't run a treadle-powered lathe after it all collapses. Because of Wokies implementing "AI" and ruining the world.

You know what wokie socialists lit their homes with before tallow candles and whale oil? Electricity.

Cheers,

Sirhr

 

[Lightning8]

I took early retirement after I led a Digital Transformation at a major US company and my job along with many other jobs was eliminated

 

[Maggot]

Are they going to lay off the patriots or the pedos?

That is the question…

Sirhr

Anybody they can. Fuck Disney.

lay off employees but keeping all the pervs and snow flakes that wrecked the company yea that makes sense .

RUMOR: Disney Trespassing Third-Party Tour Guides ...​

WDW News Today
https://wdwnt.com › 2023/10 › rumor-disney-trespassi...




Oct 15, 2023 — The reports indicate that the guides were given one-year bans from Walt Disney World's property rather than permanent trespass warnings.

 

[EddieNFL]

Are they going to lay off the patriots or the pedos?

That is the question…

Sirhr

I know a lady cut in the previous round of layoffs. She received a nice severance package. Before she could find another job, they rehired her in a different position and she kept the severance pay.

Between that stupidity and the faggotry is it any wonder they are bleeding money?

 

[Father O’blivion]

So, a ten second search suggests that Disney’s earnings are up year to year. So is this just corporate propaganda to justify layoffs so they can squeeze out more executive bonuses?

 

[SharpsNitro]

Something I am trying to figure out… how do some of these tech companies justify such massive payrolls?

Zoom is laying off 1300 or so. 1300 surplus? How the fuck does a company that provides… face to face connectivity have so many employees that it nukes 1300 of them?

Disney? I can see a big payroll in animation, cleaning shitters in parks and hotels… and molesting kids on Disney Cruise ships. But 220,000? What do these people do all day?

Most of disneys assets are media. Stored on servers.

These tech companies seem to be just parking lots for woke socialists… blowing shareholder money. And each other, probably.

Sirh

Ever increasing head counts were a way to signal to Wall Street that they are/were still “growth” companies. Really no much more to it than that, just a scam to keep the stock price going up.