Walt Disney Corporation hasn’t gotten as much bad press as Anheuser-Busch, but the company has pushed aside a huge block of its customers, and in the process, lost more than $100 billion in its market value. This week, the pain will become more evident as Disney begins to compensate, launching a series of massive layoffs affecting every division of the company — from the theme parks to the movie-making studios to broadcasting operations like ESPN.
As many as 4,000 employees are expected to receive pink slips this week. That number could reach 7,000 layoffs by the end of the summer, as the belt-tightening continues.
It’s unfortunate that so much of the damage was self-inflicted as Disney openly embraced woke leftist policies, often antagonizing its base of customers. We don’t see many signs of the mendacious Disney management changing its high-handed and arrogant ways, so look for additional shakeups down the road. Here’s more Ryan Kinel at the RK Outpost.
