The company that once defined family entertainment is going from media giant to epic failure, suffering over $1.4 billion in streaming losses and a stock drop of around 39% for the year. And, it would appear that these financial declines are inevitably leading to employee layoffs.
Disney has put a freeze on hiring, it is limited employee travel and is also reviewing workers for efficiency with plans to introduce cuts as a means to make the company "more nimble." CEO Bob Chapek noted in a leaked memo to senior staff:
"As we work through this evaluation process, we will look at every avenue of operations and labor to find savings, and we do anticipate some staff reductions as part of this review.
...I am fully aware this will be a difficult process for many of you and your teams. We are going to have to make tough and uncomfortable decisions."
Chapek mentions in the same memo the problem of "macroeconomic factors" out of Disney's control. He does not, however, mention his habit of bending the knee and groveling to woke activists, attempting to sabotage Florida's anti-grooming legislation for public schools, or the company's steady supply of content that pushes far-left narratives.
It is not so much the "macroeconomic factors out of Disney's control" that are causing the conglomerate's downfall. Rather, it is all the factors within their control, including their refusal to produce content that consumers actually want. American audiences are done with leftist propaganda in their films and television and are now actively researching and avoiding any content that promotes woke ideology and social justice talking points. After around five years of consumers withholding their money, Disney is finally starting to feel the pain.
This is what happens when a company markets its products to a tiny minority of leftist activists and LGBT fanatics, most of whom have very little money to spend anyway. Specifically, parents are concerned with Disney's "family entertainment" evolving to focus on LGBT characters, being that LGBT concepts are purely sexual in nature and far outside of the understanding of the average child. Highlighting the obscure sexuality of characters within a children's production is a bizarre notion.
Furthermore, the company's hostility towards Florida's Parental Rights In Education bill, which makes it illegal for public school teachers to groom young children with sexualized concepts and gender ideology, raises questions among consumers about Disney's agenda in entertainment.
It is therefore no surprise that the company is now floundering, with a vast array of politically motivated box office bombs and streaming disasters that struggle to bring in even moderate viewership. Though they will never openly admit it, ultimately, Disney proves yet again that going woke also means going broke.