Update: The Walt Disney company announced Wednesday it is trimming its payroll by some 7,000 employees, becoming the latest major firm to cut jobs as economic uncertainty weighs.
The Walt Disney Co. went woke and now it is paying the consequences, with employees bracing for a bloodbath.
Executives are expecting CEO Bob Iger to announce drastic cost cuts — including layoffs that could number in the thousands — when the company reports quarterly earnings on Wednesday, according to a Business Insider report. The cuts come amid Iger’s ongoing corporate restructuring following a disastrous 2022 that saw company profits tank and its stock plummet 44 percent.
