Went Woke, Going Broke – Disney To Lay Off 7,000 Employees

The happiest place on Earth has seen better days for sure.

Last year, Disney picked a political fight with Florida Gov. Ron DeSantis (R) over the state’s Parental Rights in Education Law, which forbids the teaching of sexuality and gender theory to kids in kindergarten through third grade.

On March 29, 2022, a Disney executive vowed more inclusivity in its productions — as the entertainment giant works to make underrepresented groups, such as racial minorities and the LGBTQ community, account for at least 50 percent of its regular characters by the end of the year.

Karey Burke, president of Disney’s General Entertainment Content, said the company must do more to make its content more inclusive in a company-wide Zoom call.

“I’m here as a mother of two queer children, actually,” Burke said on the call. “One transgender child and one pansexual child, and also as a leader.”

Burke said she supports featuring “many, many” characters who are LGBTQIA, which stands for lesbian, gay, bisexual, transgender, queer (or questioning), intersex, and asexual (or allies).

Apr 21, 2022, the Florida legislature passes a bill repealing Disney’s special tax status.

As a result of Disney’s embracing transgenderism, critical race theory, and other forms of woke politics in its entertainment aimed at children, tens of thousands of Americans canceled their subscriptions to their Disney+ streaming service, canceled vacations, and stopped buying Disney merchandise nationwide.

In November Disney reported that its streaming services lost a mindboggling $1.5 billion in the fourth quarter alone as the company attempted to spend its way to streaming dominance.

Disney’s finances subsequently have tanked forcing The Walt Disney Co. to announce they will be eliminating 7,000 jobs worldwide, or more than 3 percent of its workforce, as CEO Bob Iger aims to slash a stunning $5.5 billion in spending in an attempt to save the once formidable company.

Bob Iger announced the cuts Wednesday during Disney’s first-quarter earnings report, saying it was not an easy decision to make. “I have enormous respect and appreciation for the dedication of our employees worldwide,” he said. “While this is necessary to address the challenges we face today, I do not make this decision lightly.”

Disney employs around 220,000 people worldwide, meaning the layoffs will impact 3.2 percent of the company. The layoffs are expected to hit U.S. employees the hardest, with the “DMED” team — or Disney Media and Entertainment Distribution — bearing the brunt of the cuts.

The layoffs also come after a disastrous 2022 that saw Disney stock plummet 44 percent — its worst year in nearly five decades. Former CEO Bob Chapek was abruptly fired in November on the heels of the last quarterly report.

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