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Disney Layoffs Reportedly Underway As Several Hundred White-Collar Workers Face Cuts

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by Tyler Durden
Thursday, Sep 26, 2024 - 04:35 PM

Go woke, get broke.

According to sources cited by Deadline, Disney is pushing ahead with new layoffs as part of a broader "cost-saving initiative." About 300 employees across Disney's corporate divisions will be impacted this week. 

The layoffs of 300 employees began on Tuesday and will continue until the end of the week. They are all US-based employees who work across the company's corporate operations, including legal, HR, finance, and communications. 

"We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney," a Disney spokesperson wrote in a statement to Deadline.

The spokesperson noted, "As part of this ongoing optimization work, we have been reviewing the cost structure for our corporate-level functions and have determined there are ways for them to operate more efficiently."

Today's cuts follow minor layoffs at Disney Entertainment Television in late July. In 2023, Disney conducted massive cuts, upwards of 7,000 jobs, or about 3.2% of its global workforce. 

Disney's workforce peaked at around 220,000 in 2019 and has since been steadily dropping, with the latest figure at 170,000 by the end of 2023.

The entertainment behemoth has been hemorrhaging money through its Disney+ streaming service.

And theme parks are just too damn expensive. 

Plus, Disney's movies and TV shows that are full of wokeism have bombed as parents are tired of this non-sense.

Sigh.

Here's what all went wrong:

Cartman said it the best.

In markets, Disney shares have been rangebound between $120 and $80 since the mid-point of 2022. 

Putting woke ideology ahead of entertainment has destroyed an American institution. 

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