‘Woke’ Disney to lay off thousands, orders managers to compile list of employees to cut

[Valin]

BizPac Review

Vivek Saxena

March 19, 2023

According to a source inside Disney, the entertainment giant has ordered managers/executives to prepare budget cuts and, more notably, lists of employees to be laid off, with the expectation being that firings will begin in April.

This news, broken by Business Insider, comes weeks after CEO Bob Iger announced during the company’s February earnings call that he’d like to cut at least 7,000 jobs (only 4,000 of them are already filled) to reduce expenses.

“Walt Disney Co. Chief Executive Bob Iger said Wednesday that the Burbank company will shed 7,000 jobs in an effort to save $5.5 billion in costs, marking some of the steepest reductions in the company’s history and the latest sign of Hollywood’s retrenchment,” the Los Angeles Times reported at the time.

(Snip)

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