Has Disney learned their lesson? More WOKE stories are on the way. Hopefully this is the first of many stories about companies that went WOKE and are now suffering because of it.
Disney will reduce its workforce by 7,000 employees in a bid to cut costs, Iger said Wednesday on the company’s earnings call for the year-end 2022 quarter. The figure represents 3.2% of Disney’s total headcount of about 220,000 worldwide as of Oct. 1, 2022.
The layoffs are part of Disney’s efforts to achieve about $5.5 billion in cost savings. Of that, $2.5 billion represents “non-content costs” (including labor costs) and $1 billion of those targeted cost-reductions are already underway, Iger said. Disney is aiming for an annualized reduction of $3 billion in non-sports content costs, expected to be realized over the next several years, Disney CFO Christine McCarthy told analysts.
One of their acts of desperation will be bringing back Tim Allen for Toy Story 5. Let’s see if they clean it up after the disastrously 4.
