Maybe Mickey? More than likely not, but there’s about 7,000 Disney employees across multiple positions who are.
This would be the first of three rounds of layoffs before the beginning of summer, according to a memo from Chief Executive Bob Iger.
The cuts are part of a broader effort to reduce corporate spending and boost cashflow.
Disney plans to cut $5.5 billion in costs, including $3 billion in content spend.
The layoffs were initially announced back in February.
The job cuts will be cross-company, hitting Disney’s media and distribution division, parks and resorts, and even the ESPN division.
They’re following the lead of Warner Brothers, Discovery, and other legacy media companies that are cutting jobs and spending.
Disney has said its streaming business, led by Disney+, Hulu and ESPN+, will stop losing money in 2024.
Shares are up about 8% this year after falling 44% last year.
Truth be told, it’s not just Disney, Meta, Morgan Stanley … it’s everywhere, across every industry.
The squeeze has been on the horizon for many years. Covid-19 just delayed it with an artificial infusion of unearned income widely distributed.
Had that never occurred, this contraction we’re seeing across all areas of the economy would’ve likely transpired already.
But because the “G” took the actions it did, the impacts of this contraction that was due is more likely going to be a collapse of an over inflated economy that lacked foundation.
You don’t want to lack foundation. You want to have your bricks laid in a manner that you can stand tall and strong no matter what happens.
You want to have limited debt exposure — none if at all possible. Your home paid for, your vehicles paid for, your credit cards paid for and your retirement funded.
If you haven’t laid that foundation yet, let’s chat. I can’t do it for you – but I can share with you what I’ve done for myself and my family … simple steps you can take to accomplish the same!
Author: Anthony Speciale
Anthony Speciale Jr. Born and raised into a blue collar family in the suburbs of Northern New Jersey, I have in recent years put down the wrenches I’ve been turning for the better part of my entire life and have become a professional energy trader. My mother was a nurse practitioner and my father was an auto mechanic. I had literally watched both of my parents work endless hours with their hands throughout their entire lives and after loosing my mother at a young age to cancer, I had decided I wanted a different future than the path I was currently on. At a young age I was a struggling student who didn’t excel very well academically and college wasn’t really in the cards for me, but I was always a disciplined worker. When I had put my mind to something, there was nothing that was going to stop me from reaching and exceeding my goals I had set for myself. So, as life had evolved, so did my desire for freedom. It was never much about the money for me, but it was about the success and the freedom that accompanied that success. Over a decade ago, I decided to specialize in just one sector of the market. I knew that I only needed to be proficient at just one area of the market to achieve the goal I had set forth. Trade passively while producing massively. Well, that’s exactly what I did. After several years of failed attempts, endless education, trial and error - I had finally yielded myself the success and freedom I was desiring. After making myself over $1,000,000.00 trading this very method, it was time to share my success with those who also desire the freedom I did. After a lot of work, time, effort and sacrifice - Big Energy Profits went from merely a concept into a very real reality.