{"id":1737615,"date":"2022-11-14T08:15:24","date_gmt":"2022-11-14T13:15:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1737615"},"modified":"2022-11-14T08:18:35","modified_gmt":"2022-11-14T13:18:35","slug":"disney-begins-layoffs-hiring-freeze-and-limiting-employee-travel-as-stock-crashes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-begins-layoffs-hiring-freeze-and-limiting-employee-travel-as-stock-crashes\/","title":{"rendered":"Disney Begins Layoffs, Hiring Freeze, and Limiting Employee Travel as Stock Crashes"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdisney-begins-layoffs-hiring-freeze-and-limiting-employee-travel-as-stock-crashes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1737615&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/disneylayoffs-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">It\u2019s been a bad week for the Walt Disney Co.<\/p>\n<p class=\"a8d-pre\">First, Florida Gov. Ron DeSantis (R) won re-election in a landslide victory on Tuesday. Then Disney\u2019s corporate earnings disappointed Wall Street, sending its stock crashing to new lows. Now the entertainment giant is reportedly planning layoffs, a targeted hiring freeze, and travel limitation on its employees.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Shares of the Walt Disney Co. plummeted late Tuesday and into early Wednesday to their lowest level in nearly a decade as concerns mount over the company\u2019s profitability and wild spending habits on Disney+ and other streaming services. <a href=\"https:\/\/t.co\/MiQhdlv97F\">https:\/\/t.co\/MiQhdlv97F<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1590453391553171456?ref_src=twsrc%5Etfw\">November 9, 2022<\/a><\/p>\n<\/blockquote>\n<p class=\"a8d-pre\">In a letter to top company executives <a href=\"https:\/\/variety.com\/2022\/film\/news\/disney-layoffs-hiring-freeze-bob-chapek-1235430840\/\">obtained<\/a> by multiple news outlets, Disney CEO Bob Chapek said the austerity measures will be \u201cdifficult\u201d but necessary.<\/p>\n<figure id=\"D-ROS-B2\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cI am fully aware this will be a difficult process for many of you and your teams. We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time,\u201d he wrote.<\/p>\n<p>\u201cOur company has weathered many challenges during our 100-year history, and I have no doubt we will achieve our goals and create a more nimble company better suited to the environment of tomorrow.\u201d<\/p>\n<p>He said Disney will also be conducting a \u201crigorous review of the company\u2019s content and marketing spending,\u201d with all of these efforts being overseen by newly formed \u201ccost structure taskforce\u201d comprised of Chapek, CFO Christina McCarthy, and general counsel Horacio Gutierrez.<\/p>\n<p class=\"a8d-pre\">It remains unclear how many workers Disney will layoff and which areas of the company they will come from.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>As Breitbart News <a href=\"https:\/\/www.breitbart.com\/entertainment\/2022\/11\/09\/tragic-kingdom-disney-shares-plummet-to-lowest-level-in-nearly-a-decade-as-concerns-mount-over-profitability\/\">reported<\/a>, Disney shares plummeted this week after the company reported fiscal fourth-quarter earnings that fell short of expectations, putting the company\u2019s future profitability into question. Disney revealed that it lost a stunning $1.5 billion on its streaming entertainment services as it seeks to build out Disney+ and Hulu in an effort to compete with Netflix and other competitors.<\/p>\n<p>Disney picked a political fight with Gov. DeSantis earlier this year over the state\u2019s Parental Rights in Education Law, which prohibits the teaching of sexuality and gender ideology \u2014 including transgenderism \u2014 to children in kindergarten through third grade.<\/p>\n<p><a href=\"https:\/\/www.breitbart.com\/entertainment\/2022\/04\/08\/disney-ceo-bob-chapek-issues-groveling-apology-to-company-lgbtq-activists\/https:\/\/www.breitbart.com\/entertainment\/2022\/04\/08\/disney-ceo-bob-chapek-issues-groveling-apology-to-company-lgbtq-activists\/\">Caving to pressure<\/a> from a small group of radicalized employees, Chapek condemned the law and pledged that Disney would embrace radical LGBTQ activism going forward.<\/p>\n<p>So far this year, shares of Disney are down a whopping 62 percent.<\/p>\n<p><strong><em>Follow David <\/em><em>Ng on Twitter\u00a0<a class=\"x5l\" href=\"https:\/\/twitter.com\/HeyItsDavidNg\" target=\"_blank\" rel=\"noopener external\">@HeyItsDavidNg<\/a>. Have a tip? Contact me at\u00a0<a class=\"c-link x5l\" href=\"mailto:dng@breitbart.com\" target=\"_blank\" rel=\"noopener external\">dng@breitbart.com<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s been a bad week for the Walt Disney Co. First, Florida Gov. Ron DeSantis (R) won re-election in a landslide victory on Tuesday. Then Disney\u2019s corporate earnings disappointed Wall<\/p>\n","protected":false},"author":1,"featured_media":1737618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1737615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1737615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1737615"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1737615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1737618"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1737615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1737615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1737615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}