Disney destroyed its own brand and is now suffering the consequences.
The company has embraced the left wake and now, many people who would normally go to their movies and visit their theme parks are abandoning them.
For decades, Disney was seen as a family-friendly company. Now they seem intent on pushing a progressive agenda.
It is already costing them their jobs.
Running: WaPo and Taylor Lorenz use Shady Leftist groups to list Gateway Pundits, Dr. Robert Malone, Dr. Peter McCullough, DC Draino, Emerald Robinson, Andrew Tate, etc. as the top “extremist influencers” on Twitter.
Various reports:
Disney cutting 7,000 jobs, or 3% of workforce, to cut total costs by $5.5 billion
Bob Iger is back as Disney CEO — and swinging an axe.
Disney will cut its workforce by 7,000 employees to cut costs, Iger said Wednesday in the company’s earnings call for the final quarter of 2022. The figure represents 3.2% of Disney’s total headcount of 220,000 worldwide as of October 1, 2022.
The layoffs are part of Disney’s effort to save about $5.5 billion in costs. Of that, $2.5 billion represents “non-content costs” (including labor costs) and $1 billion of these targeted cost-reductions are already underway, Iger said. Disney is aiming to cut $3 billion in annual non-sports content spending, which is expected to materialize over the next few years, Disney CFO Christine McCarthy told analysts.
Of the $2.5 billion in non-content spending, nearly 50% represents marketing spending; 30% represents labor costs; And 20% represents technology, procurement and other costs, McCarthy said. Disney expects those cost savings to be “fully realized” by the end of fiscal 2024.
Iger said he did not take the decision to cut jobs lightly. “I have great respect and admiration for the dedication of our employees worldwide,” he said.
Companies are doing it for themselves.
Disney just announced 7500 employee layoffs and $5.5 billion in budget cuts.
If they want to double their waking hours, that’s their choice. But, I hope they are ready to break. https://t.co/7mZqLyXrjC
— CJ Pearson (@thecjpearson) February 11, 2023
Disney+ lost 2.3 million subscribers in Q1 2023
In just one week, DirectTV lost more than 7 million subscribers
Both are off to a good start. Let’s continue to hurt their business.
— Ryan Fournier (@RyanAFournier) February 11, 2023
Perhaps the most disturbing business trend I’ve seen in the last 5 years is the destruction of childhood innocence by Disney and other vigilante corporations in an attempt to legitimize the extreme life choices of some far left adults. pic.twitter.com/ntKksQjBNN
— Scott Mason (@hypnoksa) February 11, 2023
As long as Disney continues to push race and LGBT issues, they will continue to bleed money and customers.
They are choosing this fate.