The Walt Disney Company is set to lay off thousands of employees this week, marking the second round of job cuts since the end of March.
According to Disney officials, the company is looking to cut a total of 7,000 jobs by summer, with the latest round of layoffs bringing the total number of jobs culled to 4,000. The job cuts will take place throughout the company’s various business segments, including Disney Entertainment, ESPN, and Disney Parks, Experiences and Products.
Disney has a long history of layoffs in response to changes in the industry and other economic factors. In 2020, the company announced a plan to lay off 28,000 workers, primarily in its theme park division, due to the COVID-19 pandemic. Prior to that, in 2019, the company laid off an undisclosed number of employees from its studio and consumer products divisions. In 2018, the company also announced layoffs, primarily in its digital media division, as it shifted its focus to streaming services.
JUST IN – Walt Disney to cut several thousand more jobs, begins second wave of layoffs — Reuters
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Despite these ongoing job cuts, the company has come under fire from some for promoting “woke” or progressive values in its entertainment content. Critics have accused Disney of overkill with LGBTQ+ characters and themes in its movies and TV shows. Many have argued that the company’s focus on these issues has come at the expense of its bottom line.
The latest round of job cuts is evidence of the company’s misplaced priorities.
In response, Disney has defended its commitment to creating inclusive content and promoting social justice causes. Despite these efforts, however, it remains to be seen whether the turmoil will force the company to make even deeper cuts in the years to come.