The dream factory known as Disney is doing its fiscal responsibility dreams a reality by laying off windrows of its workforce and double the sequels. By Variety, dDuring the company’s year-end earnings call this morning, recently returned CEO Bob Iger announced that he Cut 7,000 employees hoping to find $5 billion in savings. He also announced that the company would be throw another round of necessary installments At toy story, FrozenAnd zootopia franchises on our knees. Except depressing news that Disney would, once again, test fate and make another toy storythe company is Also bringing Avatar rides and experiences at Disneyland California.
It wasn’t a particularly good call for Disney as the company also announced that Disney+ had lost over 2.4 million subscribers, mostly from Disney+ Hotstar, the company Indian banner. Apparently, like in the US, Disney+ Hotstar subscribers weren’t too fond of it Light yearWho explains why Disney is coming back in the toy box. Maybe if Disney gives us more Forky, this will bury the news that Disney is laying off 7,000 employees.
“I have tremendous respect and appreciation for the dedication of our employees around the world,” Iger said moments after paying respect to his unemployed employees.
We are a long way from 2016 when Mr. Iger posted on Facebook“To Bernie Sanders: We’ve created 11,000 new jobs at Disneyland over the past decade, and our company has created 18,000 in the United States over the past five years. How many jobs have you created? What have you brought to the American economy? » Sanders had previously criticized Iger’s company, asking the public at a campaign rally in Anaheim, “Does anyone make a living working for Disney?” This is an example of what we are talking about when we talk about a rigged economy.
Proving Sanders somewhat right, Iger’s decision to lay off 7,000 workers is odd, given that the company’s overall revenue increased by 8% last quarter, posting a turnover of 23.51 billion dollars. Disney, where investors’ dreams come true.