Disney is Expected to Carry Out Major Layoffs After Billions in Losses
Entertainment company Disney is currently preparing for massive layoffs after it experienced over $1.4 billion in streaming losses and a stock drop of roughly 39% in 2022.
According to a report by Tyler Durden, Disney has implemented a hiring freeze, has placed limits on employee travel, and it’s evaluating workers’ efficiency all in efforts to carry out cuts that are designed to make Disney “more nimble.”
In a a leaked memo to Disney’s senior staff, CEO Bob Chapek said the following:
“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.”
In this memo, Chapek also called attention to the problem of “macroeconomic factors” that are outside of Disney’s control. While there may be validity to some of Chapek’s claims, it’s undeniable that Disney’s turn towards wokism has alienated much of its consumer base.
This was most notable when Disney got into it with Florida Governor Ron DeSantis over his anti-grooming proposal for public schools. Disney took the L in this case as DeSantis’s legislation finally became law.
Companies that go woke must recognize that large portions of the country are not down with the cultural Left’s agenda. As a result, alienated consumers could withdraw their patronage en masse.
If there is one thing the Right can do that does not necessarily involve conventional politics, it’s using boycotts against companies who offend right-wing sensibilities and traditional values. The Right must get used to the idea of punishing institutions and individuals who pursue actions that undermine traditional values. Doing nothing only ensures that the cultural Left attains cultural and political hegemony.