The Walt Disney Co. has reportedly begun laying off personnel overseas as it continues to eliminate jobs at home, with an additional 2,500 U.S. workers receiving pink slips this week.
Disney began notifying around 100 overseas workers this week that their jobs are at risk of elimination, according to a Deadline report. The staff are based in London and across the EMEA region — or Europe, the Middle East, and Africa. The number of impacted workers is expected to be proportionate to the number of U.S. layoffs.
Disney Begins Round Of Layoffs Outside The U.S. https://t.co/bRh6UN1drm pic.twitter.com/DAWAIkDsjW
— Deadline Hollywood (@DEADLINE) May 25, 2023
CEO Bob Iger instituted a brutal round of mass layoffs earlier this year that will see a total of 7,000 Disney workers lose their jobs. The layoffs come as Disney is experiencing a profitability crisis brought on by a weak economy under President Joe Biden as well as poor decisions made by former CEO Bob Chapek, who was fired in December following a disastrous earnings report.
Iger is looking to slash a stunning $5.5 billion in spending in an attempt to save the once formidable company.
This week, an additional 2,500 Disney workers in the U.S. lost their jobs, according to multiple reports. It represents the latest round of domestic layoffs following two previous rounds, the first of which began in March.
Like other legacy Hollywood studios, Disney is spending a fortune on streaming entertainment in a bid to compete with Netflix and capture younger generations of consumers. At the same time, studios are facing a dramatic decline in advertising revenue as households buffeted by Bidenflation continue to cut spending.
Cord-cutting is also continuing to eat into studios’ profitability.
Despite its significant financial challenges, Disney continues to embrace woke politics that alienate millions of its customers.
The studio recently sued Florida Gov.Ron DeSantis / Rumble
(R), alleging he retaliated against the company after Disney leaders vowed to fight the state’s Parental Rights in Education law, which protects public school children from indoctrination in radical gender and sexual theory.
As Breitbart News reported, the Disney+ series The Proud Family: Louder and Prouder is pushing reparations for slavery, claiming in a recent episode that America was founded on “white supremacy” and “still has not atoned” for its racism.
Disney+ recently featured a transgender “man” who menstruates in its animated Baymax series for kids. The streamer has also cast a drag queen and a transgender “trans-masculine” actress in the upcoming Marvel superhero series Ironheart.
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