Go Woke, Go Broke: Disney to Axe 7,000 Jobs as Company Faces Backlash Over Left-Wing Agenda

Disney announced Wednesday that it will be cutting 7,000 jobs in response to backlash against its woke agenda and declining revenues.

Disney will be able to reduce its costs by $5.5 billion, with $3 billion coming from content, CNBC reports. reported. Robert Iger, Disney CEO, said that Disney will also reorganize itself into three divisions: entertainment; ESPN; and parks and experiences.

The revamp comes in the wake of recent setbacks that Disney suffered last year under former CEO Bob Chapek. Governor. Ron DeSantis (R.), threatened that Disney’s tax cuts privileges and autonomy in a special district would be rescinded. Disney was criticized for openly opposing the Parental Rights in Education Act (described by Democrats as “the Parental Rights in Education Act”). “Don’t Say Gay” Bill, which bans teachers from discussing sex or gender identity with children under the age of three.

Disney has faced problems at both the box office, and in streaming. Recent Disney/Pixar films Lightyear Strange WorldBoth films, which had budgets of $180 million and $200 million, failed to make it big at the box office. Both films failed to make it big at the box office. Stirred The inclusion of explicit LGBT themes within movies for children and families has sparked controversy.

Last year, Disney’s direct-to-consumer division Loss The fourth quarter saw $1.47 billion, and then-CEO Bob Chapek expects profitability in fiscal year 2024. Disney+, Disney’s streaming service, has now been launched. “161.8 million subscribers, down 2.4 million from September,” According to Forbes. The stock price of Disney has dropped 40% from 2021.