Disney has begun its third round of layoffs as it reaps the dire consequences of its continued push of woke politics and LGBTQ ideology onto children.
Despite objections from the public, the Disney has remained defiant in its stance on LGBTQ and social justice issues as the company begins its layoffs.
As The Daily Fetched reported earlier this year, Disney saw a whopping $123 billion wiped from its market value due to its identity politics.
In 2022, Disney saw its worst year since 1974, when the company’s stock dropped 54 percent.
However, Disney’s future does not hold much hope unless it ditches pushing ‘woke’ and LGBTQ ideology onto children.
As Comic Book reported:
The latest layoffs were initially announced by former CEO Bob Chapek and kept by Iger as a way to save more costs amid rising economic challenges. Outside of Iger and other members at the highest levels of the Disney C-suite, no employee has seemed safe from termination, given the likes of longtime Marvel boss Ike Perlmutter have received pink slips during the layoffs.
“The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here,” Iger wrote in the memo (via Variety).
“That’s part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company.”
“For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time,” he continued.
As CNN noted:
The first two waves of layoffs took place in March and April, eliminating roughly 4,000 jobs, including at ESPN, Disney’s entertainment division, Disney Parks, and its Experiences and Product division.
In February, Iger announced the media giant would axe roughly 7,000 employees from its global workforce in three waves before the start of summer, an undertaking aimed at saving $5.5 billion in costs. The labor cuts make up 30% of this figure, with another 50% coming from marketing operations and 20% from decreased spending on technology, procurement, and other expenses, the company said.
The latest wave of layoffs taking place this week is expected to bring the total number of job cuts to more than 6,500, approaching the 7,000 figure previously announced by Iger.
As of October 1, Disney had 220,000 employees — making the 7,000-person reduction about 3% of its global workforce.