‘Woke’ Disney Begins Layoffs and Freezes New Hirings as Stock Crashes

'Woke' Disney Begins Layoffs and Freezes New Hirings as Stock Crashes
Facebook
Twitter
Telegram
Reddit
Email

Disney stock crashed to new lows earlier this week amid reports the entertainment giant is planning layoffs, travel limitations on its employees, and a hiring freeze.

Disney CEO Bob Chapek said the austerity measures would be difficult” but necessary, according to a letter to top company executives.

“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 said.

“But that is just what leadership requires, and I thank you in advance for stepping up during this important time,” he added.

“Our company has weathered many challenges during our 100-year history, and I have no doubt we will achieve our goals and create a more nimble company better suited to the environment of tomorrow,” Chapek continued.

Chapek said the company would also be conducting a “rigorous review of the company’s content and marketing spending,” with efforts being overseen by a newly formed “cost structure task force” comprised of Chapek, CFO Christina McCarthy, and general counsel Horacio Gutierrez.

RELATED: Disney Employees, Police Chief Arrested in Massive Sex Trafficking Sting

As Brietbart reported:

Disney shares plummeted this week after the company reported fiscal fourth-quarter earnings that fell short of expectations, putting the company’s future profitability into question. Disney revealed that it lost a stunning $1.5 billion on its streaming entertainment services as it seeks to build out Disney+ and Hulu in an effort to compete with Netflix and other competitors.

Earlier this year, Disney politically targeted Gov. DeSantis over the state’s Parental Rights in Education Law, which prohibits the teaching of sexuality and gender ideology.

Chapek condemned the law and vowed Disney would embrace radical LGBTQ activism.

Since then, Disney shares have been down a whopping 62 percent.

Go woke, go broke.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Breaking

Trending

San Francisco Approves Plan to Allow Police Robots to Kill Humans
San Francisco Approves Plan to Allow Police Robots to Kill Humans
San Francisco leaders voted to allow the city’s police department to use lethal force with robots...
More Canadians Being Driven to Euthanasia to Escape Crippling Poverty
More Canadians Being Driven to Euthanasia to Escape Crippling Poverty
Earlier this month, reports of an impoverished Canadian citizen requesting permission to terminate his...
NY Times Claims Balenciaga Scandal Is Just a Right-Wing Conspiracy Theory
NY Times Claims Balenciaga Scandal Is Just a Right-Wing Conspiracy Theory
The New York Times attempted to dilute the Balenciaga scandal in a piece that appeared to reduce the...
Planned Parenthood Director: Babies Are "Sexual Beings" from Birth
Planned Parenthood Director: Babies Are "Sexual Beings" from Birth
An executive director at a Planned Parenthood’s sex education arm claimed children are born “sexual”...
Country Singer, 37, Dies in His Sleep Just Hours after Wedding
Country Singer, 37, Dies in His Sleep Just Hours after Wedding
Red Dirt country singer, Jake Flint from Oklahoma, died suddenly just hours after his wedding, according...
Biden Official Sam Brinton Hosted 'Spanking' Seminar Weeks After 'Luggage Theft'
Biden Official Sam Brinton Hosted 'Spanking' Seminar Weeks after 'Luggage Theft'
Biden administration official Sam Brinton, who was arrested earlier this week for allegedly stealing...
3 Heart Attacks, 33 Hospitalizations at Spanish Half-Marathon – MEDIA Blames Weather
3 Heart Attacks, 33 Hospitalizations at Spanish Half-Marathon – MEDIA Blames Weather
Last week’s Behobia-San Sebastián half-marathon in Spain saw three of its participants suffer heart...
Biden Admin Cannot Account for $20 Billion Sent to Ukraine – Possible Audits Loom
Biden Admin Cannot Account for $20 Billion Sent to Ukraine as Possible Audits Loom
The Biden Administration has admitted that they don’t know where $20 Billion sent to Ukraine landed....
Protester in Shanghai: 'I'm Witnessing History in the Making'
Protester in Shanghai: 'I'm Witnessing History in the Making'
Mass protests broke out across Shanghai demanding an end to COVID lockdowns following outrage over an...
Germany Bans Farmers from Fertilising Own Land to Serve EU Green Agenda
Germany Bans Farmers from Fertilising Own Land to Serve EU 'Green Agenda'
Farmers in Germany have been banned from properly fertilizing large areas of their land under strict...
0
What are your thoughts? Click to commentx
()
x