Disney announces mass layoffs amid financial woes, row over woke policies with Florida Republicans
The layoffs come as Iger seeks to find $5.5 billion in cost savings to put Disney on stronger financial footing.
The Walt Disney Co. will soon lay off 7,000 workers, CEO Bob Iger announced on the company's Wednesday earnings call.
"This reorganization will result in a more cost-effective, coordinated and streamlined approach to our operations... I do not make this decision lightly," Iger said, according to ABC News.
The layoffs come as Iger seeks to find $5.5 billion in cost savings to put Disney on stronger financial footing, CNN Business reported. Of that total, he seeks to find $2.5 billion in savings from "non-content" operations.
That figure amounts to approximately three percent of the company's worldwide workforce. The layoffs come amid a string of woes for the company, including the streaming platform Disney+ losing subscribers for the first time since its launch, the outlet noted.
The layoffs come amid a string of job cuts at media companies, including Warner Bros., ABC noted.
It comes amid a row between the company and Florida Republican Gov. Ron DeSantis over the company's self-governing status around Disney World. The company earned Republican ire following its public opposition to Tallahassee's education policies, which left-wing activists have deemed anti-LGBT.
Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.