Disney Set To Eliminate Thousands of Jobs Starting Next Week (bloomberg.com) 98
Walt Disney plans to cut thousands of jobs next week, including about 15% of the staff in its entertainment division, Bloomberg reported Wednesday, citing people familiar with the plans. From the report: The cuts will span TV, film, theme parks and corporate teams, affecting every region where Disney operates, said the people, who asked not to be identified because the details aren't yet public. Some affected workers will be notified as early as April 24. The company declined to comment. Disney said in February it planned to eliminate 7,000 positions from its workforce of more than 220,000, part of an overall strategy to shave $5.5 billion in annual costs. Cuts are being carried out across the company, the people said, including at Disney Entertainment, a unit created in a restructuring this year as a home for the company's movie and TV production and distribution businesses including streaming.
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Crappy troll, 2/10
Not really. Read a biography of Walt Disney. He'd hate the company that bears his name now, and he'd be the first to burn it all down.
Florida Man (Score:1)
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So what? You never know how he was brought up and what he was taught/exposed to. You have to act according to what is morally correct by evaluating the situation in a fair manner yourself, not according to what someone else think.
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Which means nothing. He's dead, has been for awhile. Did you not get the memo?
Re: Good (Score:1)
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But the sunshine state should be concerned. Because the state has given up on innovation, I remember when a lot of cool tech came out of there, it is poor. Income is 15% lower than the US average yet housing is around the US average. Disney has about 1/3 of employees there. And every dry foot Cuban there gets all the free stuff they want
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And homicide rate too. The homicide rate in Florida is higher than California, but DeSantis has lots of advice as to what California should do to tackle crime.
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And every dry foot Cuban there gets all the free stuff they want
If by "free stuff" you mean a plane or bus ticket out of the state, yeah, you might have a shot at that if DeSantis feels like making some press again. Otherwise, Florida is your typical stingy red state. Unemployment, food stamps, housing/utility assistance - they all require jumping through tons of hoops and are so small that it's almost like a cruel joke even if you actually manage to get them. Can't even get ACA subsidized healthcare plans here either, because Florida rejected them.
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Between the rich Republicans who retired there and the MAGA-brained locals, the poor in Florida do not stand a chance.
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You do realize that the opposite of "woke" is "inert", yes?
Re:Good (Score:5, Insightful)
They shouldn't have hired groomers to pervert the children.
Your 'think of the children' nonsense is about to get the Rocky Horror Picture Show censored for 18 and under in Florida. It really wasn't very hard to compel you to do something you and your comrades previously claimed was reprehensible. Gonna have your nanny-state go after beach-goers, next? Perhaps an alcohol ban?
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So long as they don't interfere with the Incels access to porn, it's all good
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They shouldn't have hired groomers to pervert the children.
The whole company can fail for all I care now.
As opposed to all [imgur.com] those [imgur.com] priests [imgur.com] grooming [tumblr.com] and raping [imgur.com] children [imgur.com], right?
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> Not even a full percent.
You'd think a website billed as "News for nerds" would attract trolls that could do basic arithmetic, but you'd be wrong.
=Smidge=
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It's based on the new woke-rithmetic where 2+2=5.
"Why Some People Think 2+2=5 ...and why they're right."
https://www.popularmechanics.c... [popularmechanics.com]
I never said these people were smart. I'm just stating where things went wrong.
"Many people pointed out that two animals can become three through reproduction (1+1=3, or 1+1=1, depending on your parameters)
Wow. The article seems to be written by a smart person, but this argument to illustrate how "1+1=3" is just idiotic. Might as well say "1=2" because cells divide
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It involves large values of 2 and small values of 5, i.e. rounding (2.26 + 2.26 = 4.52, so rounded to integers, 2 + 2 = 5). But if this seems wrong to you, that's because it is. You either throw away insignificant digits or you don't; you should never keep them while doing the math, then round off both the operands and the result for display.
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A story on Disney's operational decisions doesn't really count as "News for nerds". Barring company people, it probably doesn't even fit under "stuff that matters". It's either in the "all filler, no killer" category, or, given Disney's current political stoush, troll bait.
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If they had any sense, they'd be cutting when they were doing well, like amazon likes to, so they don't have to when they're not doing so well. Because you always risk losing your best people in that case.
If the company I'm working for happens to be doing provably well as an obvious and direct result of valued employee contribution, and the response from the executive branch is "cut while the cuttin's good", then the idiots in charge truly have no idea how to keep their best people.
Even those who feel valued, would come to work worrying there's a target on their back. Not the best example of creating employee loyalty or a non-threatening workplace.
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They have a returned CEO running the joint now and he realized the pee he sprayed in the corners had been cleaned off. So he needs to repee those corners.
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SVB??
https://nypost.com/2023/03/11/... [nypost.com]
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Well if you listen to nerdrotic on you tube, wokeness is exactly the condition Disney has and this is backed up by the box office results.
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It turns out the "woke" companies are doing better than ever. https://www.rollingstone.com/c... [rollingstone.com]
Disney had slightly lower than projected profits due to spending a ton on streaming services. They have more subscribers than Netflix now.
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Disney can thank the FOX catalogue for keeping their streaming service afloat.
Every company in America (Score:1, Interesting)
Mr Powell has stated he wants 3.5 million layoffs. He's also stated that he has no plan to stop the cycle of layoffs once they start happening. In other words he wants a recession or maybe even a dep
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What were you saying about not feeding the trolls? You fed that one an essay.
Re:That's nonsense (Score:4, Interesting)
The rest of your post is idiotic. Trying to make some claim about whether Disney is or isn't woke based on a film made almost 80 years ago is idiotic. No one would take claims that the Republican Party is more appealing to black voters because they ended slavery seriously. Also, I don't know where you got this idiotic take about Jerome Powell and wanting 3.5 million people fired that your original post contains, but I've seen you post in in several different stories over the past few months. I even tried to search for this, but I can't find anything to back it up. The articles that seem to be possibly related have nothing to do with what you're claiming.
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I don't know where you got this idiotic take about Jerome Powell and wanting 3.5 million people fired
My top google result for "Jerome Powell and wanting 3.5 million people fired" [senate.gov]
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The article you've posted even shows this to be speculative on Senator Warren's part and she even seems to couch what she's claiming: "The Fed’s goal is to slow inflation, and your tool—raising interest rates—is desi
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Senator Warren: I think the number is zero, that's exactly right. So, then the question becomes, we have two million people out of work. Can you stop it at two million people?
History suggests that the fed has a terrible track record of containing modest increases in the unemployment rate, once the economy starts shedding jobs, it's kind of like a run away train, it is really hard to stop. In fact, in 11 out of the 12 times, that the unemployment rate increased by a full percentage point within one year, unemployment went on to rise another full percentage point on top of that. If that's what happens this time, we would be looking at at least 3.5 million people who would lose their jobs.
You asked what the premise was. The article explained the premise. If you disagree, feel free to do so in the form of a citation.
Turning red was after the Chinese market (Score:1)
Disney isn't woke because they're a mega corporation. Mega corporations aren't woke. The idea that any such thing as a mega corporation would be concerned with systemic Injustice and not just profits is just silly. Are you another person who defines woke as "anything I don't like". Is ET for the Atari 2600 woke?
I linked it elsewhere you can go look at it there but there is a video
Have you heard of ESG scores/investing? (Score:1)
Blackrock (Larry Fink) and Vanguard are the two largest proponents of this practice. They are also the two largest shareholders of Disney.
This means there is now a financial incentive for Disney, and pretty much every other company, to 'go woke'.
I mean just look at Strange World and tell me this was organically created to sell tickets...
Companies are now doing a balancing act between securing investment/finance and actually making product that sells.
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You're alluding to "go woke, go broke". Do you really think Disney (Mr "Song Of The South" and "every one of our villains is a foreigner" ) is woke?
It requires either a significant amount of ignorance or mental gymnastics to perceive Disney as "woke". A few examples of why right-wingers should love Disney:
1. There's a shooting arcade in Frontierland.
1a. You get to shoot things at Buzz Lightyear's Space Ranger Spin.
1b. You get to shoot things at Toy Story Mania.
1c. You get to shoot things at Millennium Falcon: Smugglers Run.
2. Carousel of progress has a "traditional American family", and they even *gasp* celebrate Christmas!
3. Hall of presidents. 'nuf
So to the right wing woke means (Score:1)
It's like the Seattle heavy metal community's lame list from the old sketch comedy show almost live but without the humor.
Also if you've never seen the lame list I encourage you to go to YouTube and do so
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Their gross profit for 2022 was $28.321 billion, a 27 percent increase from 2021
https://www.rollingstone.com/c... [rollingstone.com]
Wow, only $28 billion profit last year. How will they ever recover?
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Their gross profit for 2022 was $28.321 billion, a 27 percent increase from 2021
https://www.rollingstone.com/c... [rollingstone.com]
Wow, only $28 billion profit last year. How will they ever recover?
Gross profit isn't interesting, net income is.
2022 net income was $3.19B
It's up from 2021, but 2021 is coming out of Covid.
2020 they lost 2.83 B
2019 net income was 11.05 B
2018 was 12.6B
They are way off from where they once were, and making expensive bombs isn't helping
see: https://www.statista.com/stati... [statista.com]
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Is trying to do the same thing. They're trying to figure out how many layoffs will appease Jerome Powell. The companies don't actually want these layoffs. There's plenty of money to be made and hiring is expensive. But Powell has said repeatedly he won't stop raising interest rates until he gets his layoffs.
That seems... highly implausible.
Like there's degrees to which big companies try to make the administration happy. But laying off 15% of your company when you'd rather be hiring? That's not happening.
Mr Powell has stated he wants 3.5 million layoffs.
Citation? The only mention of 3.5 million I could find was this [apnews.com]:
The leading cause of the worker shortfall, according to research by the Fed, is a surge in retirements. In his recent speech, Powell noted that there are now about 3.5 million fewer people who either have a job or are looking for one compared with
Re:Go look up a video from Senator Warren (Score:5, Informative)
grilling Powell on job losses. I think it's this one [cnn.com].
So your source for Powell stating he wants 3.5 million people to be fired is a video of Elizabeth Warren claiming he wants 2 million people fired.
A claim Powell directly denies [senate.gov].
I'm sorry, but if you write
Mr Powell has stated he wants 3.5 million layoffs
I expect those actual words to be coming from his mouth.
I'm working backwards from the idea that Powell isn't a complete moron.
Just for the record, I decided against making a snide comment here.
He has to know that the layoffs won't help inflation because the cause is price gouging. He's got more than enough education to figure that out.
So your premise is that inflation is due to corporations being greedy.
The problem with that statement is that statements were greedy pre-inflation as well. It doesn't really explain why inflation is happening now.
So then we've got to ask, "why is he doing something that he knows will only hurt working class Americans?".
Building a conclusion on a bunch of weak premises is a terrible way to reason.
There's a much simpler answer. The fed has a fairly simple mandate, achieve ~2% inflation. They have one tool to achieve that mandate, interest rates. His job is to achieve that 2%. If inflation is too high then his job is to increase interest rates until he hits 2%.
No conspiracies or evil insinuations required.
Could you at least watch the video? (Score:2)
And again, inflation is caused by price gouging, not money printing. Our economy is growing. What do you think happens to a growing economy if you stop printing money? Or are you one of those gold bug loons? You know we produce more goods and services that can be represented with gold, right? You know we have better things
One more thing (Score:2)
Again the problem you're having is you don't have a lot of information and what information you do have between fed to you by pro
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Corporations were keeping prices somewhat lower because the guidelines work performing mergers was that as long as it couldn't be shown to consumer prices were going to go up the merger would get approved. Post covid pandemic they were eager to reclaim the prophets they had lost and Joe Biden's administration was going to change that rule anyway, so they dropped the pretense.
Disney isn't doing any big mergers, nor is Apple, Amazon, or any of the other companies doing big layoffs. On what basis can you possibly draw a link to merger rules?
Either way, I'm glad they were able to get their prophets back.
Again the problem you're having is you don't have a lot of information and what information you do have between fed to you by propaganda outlets would like very much for you to blame lazy millennials on inflation and not the price gouging.
Considering the fact you led with a fake quote I'm not sure I'm the one who should be worrying about the integrity of their information.
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Spotted the partisan hack that doesn't have any problem with price inflation, it's only a problem when wages are inflated....
Huh? (Score:2)
And you're calling me economically illiterate? That's rich. What do you think happens to a growing economy that doesn't print money? Ever hear of deflation?
You're thinking is completely backwards. You're working back from your own conclusions instead of from reason. Firing 3.5 million makes the cost of labor go down because (
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You mean every mega corp on the planet raising prices without consequences because there's little or no competition can't cause inflation? Is that really what you're telling me?
It cannot cause inflation. Additional money is not created and the supply of goods or services is not decreased. If you had said it increases cost of living you would have been correct because higher prices will certainly do that. The rest of your post is just more idiotic and illogical nonsense or personal attacks. I'm sure you'll post this same inane crap about Powell again in a future post. I'm sure more people will point out why it's wrong, but don't let that stop you.
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Haha. They don't give a damn what Powell wants. They just look at their bottom line and figure out who's helping and who's hurting. Powell simply causes some effect on their bottom line, making it more expensive to hire unproductive people with borrowed money.
Well, at least (Score:2)
Loki season 2 is already in the can.
(priorities)
Suggestion for first to go (Score:5, Insightful)
Kathleen Kennedy has fucked up Star Wars for long enough. OUT.
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Mashup to "Vagina Wars", I'm in! Figuratively and literally.
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Mandalorian has been a big success.
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Well, Jon Favreau, Dave Filoni and Tony Gilroy have more or less rescued it. Mandalorian, Andor, to the lesser extent Boba Fett have all been enjoyable, Andor has pretty much been best Star Wars since Rogue One (which was best since the Empire).
Even the Obi-Wan was good enough (though it rode mostly on Ewan McGregor's performance).
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Re:DeSantis (Score:4, Insightful)
Since when is making them pay the taxes on the SAME level as everyone else - "picking winners"? I thought equality was the goal?
How does that saying go: 'Once you've received special treatment long enough, being treated fairly seems like discrimination'?
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Since when is making them pay the taxes on the SAME level as everyone else - "picking winners"?
I don't know what news source was spouting this bullshit, but let's get the facts straight:
Disney's "special tax district" meant they were responsible for running their own municipality, because nobody lived there. It is a literal modern company town. If Disney didn't have their own district which they were responsible for maintaining, the taxpayers in the surrounding counties would have to pick up the slack and Disney would actually be getting a bit of a tax break (again, because of that whole "nobody li
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Oh, and before anyone says "Dur dur 3rd graders gay sex bad!!1", Florida just officially extended the Don't Say Gay bill all the way through 12th grade. [go.com]
Re:DeSantis (Score:4, Insightful)
??? you think DeSantis has anything to do with this article. I mean there might a small portion. Everything has an effect.
Let's be real. Disney waded into politics with their entertainment business. I've never understood why they did this, but they did. Disney has forgotten why it exists. To entertain. If you stay out of politics, and entertain, people from all political sides tend to follow you. There is always some who are on each end who will disown you for not following their view, but they are the minority. This is about making money. You need the majority. So by picking a sides, Disney alienated a large portion of their audience.
Next, make good content. Oh my goodness. The feck they have been putting out is hard to watch. I stopped watching most of their movies (which used to be automatic) and never got into their streaming content. (which is loosing huge amounts of money) Make compelling stories. Make me interested. I must admit the Star Wars movies were the final stray for me. I was laughing in the theatre when I watched Rise of Skywalker. (not sure that was supposed to be a comedy) That is the last movie I watched from Disney.
Here is an opportunity to clean house. Use it. Remove the cancer in the company and grow again. It can happen, but it will take some crappy years. Heck most companies go through swings like this. It's only the companies who can look themselves in the mirror and realize they are the only ones who can make change that will continue to survive.
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Disney didn't get into politics. Not unless you're saying that acknowledging gay people is political? It's a fundamental aspect of nature that gay humans exist. God or evolution created them. If nature didn't want it, it could easily have not created it. The point is, gay people exist and they aren't bad people. Do you want Disney to pretend it doesn't happen? THAT would be political. Disney never told anyone how to vote.
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Disney didn't get into politics. Not unless you're saying that acknowledging gay people is political? It's a fundamental aspect of nature that gay humans exist. God or evolution created them. If nature didn't want it, it could easily have not created it.
And you know what? 99.99% of fans had zero problems with this existence. On planet Earth.
Once the Woke brigade demanded they take that provably Earthbound mentality into the void of Star Wars, they forever fucked themselves by disenchanting even the fans who support gays.
Disney most certainly got into the idiotic politics of going woke. And they're paying the price for it.
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So you're claiming Florida is right to punish Disney because they made some bad movies? Man, you lame culture warriors will say anything to justify your nonsense.
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Disney waded into politics with their entertainment business. I've never understood why they did this, but they did.
They did it because a large portion of their workforce is LGBTQ+. Part of that is because they've been very big on the whole workplace diversity thing [thewaltdisneycompany.com] long before the right-wing ever made a stink about such things, and the other part is that Disney offers a college program that is very appealing to young LGBTQ+ adults who wanted to GTFO from their homophobic red states.
The rest of your rant about Disney's content just sounds like you're not really part of the demographic they're targeting. Put on your loc
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Let's be real. Ron DeSantis waded into social issues with his business of being governor of Florida. I'll never understood why he did this, but he did.
DeSantis has forgotten why government exists. To govern. If they leave social
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What does a-political look like to you? If we're talking about when Disney didn't involve itself in politics, its movies were overwhelmingly white and middle class. Go back further and you have some pretty damned problematic racial stereotypes like those portrayed in Dumbo, to the outright and blatantly racist like Song of the South.
The last Disney movie (excluding Pixar) that I watched was Strange World, that did have an LGBTQ kid in it. Is that political? It had an environmental message in it. Is that pol
Eliminating or outsourcing again? (Score:3)
Are they really getting rid of these jobs or are they having people train the cheaper foreign replacements again?
* https://docs.house.gov/meeting... [house.gov]
* https://www.foxbusiness.com/fe... [foxbusiness.com]
* https://www.orlandosentinel.co... [orlandosentinel.com]
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The visa IT "shortage" claim is a fucking sham. I wish they'd close that loophole. Force them to interview any unemployed expert in the target field, per unemployment insurance tracking, and have the co submit a written report and questionnaire on why they rejected them. It won't stop all fraud, but slow it by leaving a stronger paper trail.
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Disney has been preying on children for pretty much as long as they existed.
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https://www.macrotrends.net/st... [macrotrends.net]
Can you point out where Disney went broke?
The only people preying on children are republicans bringing back child labor https://www.desmoinesregister.... [desmoinesregister.com] and child marriage. https://www.newsweek.com/misso... [newsweek.com]
Outsourced Indan IT losing their jobs? (Score:3)
Remember when Disney outsourced all of their IT to India and forced their US counterparts to train them before leaving?
So, are any of those outsourced Indian IT getting fired? Probably not.
Next on ABC... (Score:2)
.Bill, Jim, Tracy, Ken, and Sheila see each other at the unemployment office.
Bill: "Guess it is a small world after all!"
*all laugh*
*free frame*
After the workforce cut... (Score:2)