Walt Disney Company begins laying off 7,000 staff in bid to control costs, turn profit with Disney+

They started to rein in spending when Netflix posted its first loss of subscribers in a decade in early 2022, and Wall Street began prioritising profitability over subscriber growth.

A second, larger round of job cuts will happen in April, "with several thousand more staff reductions", he said, while the final round will start before the beginning of the northern hemisphere summer.California-based global entertainment conglomerate announced in February that it would eliminate 7,000 jobs as part of an effort to save $US5.5 billion in costs and make its money-losing streaming business, Disney+, profitable.

Turns out that people don’t like having the BLTG etc agenda pushed on their children.

Fantastic news. They went left now they can suffer the consequences. Bleed more

Maybe if make a few women diversity-is-good and men-are-bad movies, one make actually turn a profit?

Control costs? It's cos they realised if ppl can work from home. Then it means ppl can also work from home in a 3rd world country doing the same job for peanuts.

with many of the MCU's recent flicks has now emerged and has become synonymous with Marvel: wokeness or woke agenda and fans hate it that is why they are failing

Ol' Walt would be rolling in his grave to see the state of Disney these days... I'm sure the pain will be over soon, Disney.

They went woke, this is the result. Hope you guys at ABC are taking count of the gone woke gone broke brigade, you're on the to do list...!

go woke go broke

Too late. The company let itself get captured by ideologues who were more interested in pushing their agenda instead of giving their audience what it wanted.

😂 Go woke. Go broke. 🌈

They managed to destroy Star Wars... That's how good they are.

This is becoming common now, unfortunately!

Lucky ABCNews doesn't need to make a profit, ey?

CEO and executives took a pay cut?🤣🤣🤣🤣 Didn’t think so

I wish the ABC had to start making cutback to save Taxpayer money

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