Disney has long been the industry leader when it comes to theme park entertainment, ride technology, and entertainment on the small and silver screens alike. But the company’s newest trend is taking hold in companies across multiple industries, angering employees and customers along the way.
Guests of the Walt Disney World Resort may use Microsoft Edge to plan their trips, drive in a Ford or General Motors vehicle to the parks (or board a Boeing 747 to fly to Orlando), and post vacation photos to Facebook. Aside from this, The Walt Disney Company has no real affiliation with companies like Microsoft, Ford Motor Company, General Motors, Boeing, Amazon, LinkedIn, and Facebook. But in 2023, there is an undeniable tie that binds them, and it’s an unfortunate one.
Job cuts at the beginning of the year were largely taking place within the tech industry. Google’s parent company, Alphabet, as well as Microsoft Corporation, began trimming their expenses by laying off employees. Facebook’s parent Meta said roughly 10,000 jobs would be cut soon, comprising the second mass layoff for the company. Amazon CEO Andy Jassy recently announced more layoffs within the company–9,000 to be exact.
“Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount,” Jassy said, saying that the decision came after Amazon finished its annual planning process.
But more recently, the practice of downsizing has spilled out from the tech sector into other industries. In fact, for many companies, downsizing has become the standard procedure used as a means of balancing the books. Though it’s not illegal, such a procedure leaves unemployment in its wake for many, and the ripple effects from that alone can present very difficult challenges for those who are awarded pink slips as part of the fallout.
Disney announced in early February that more than 7,000 jobs would be cut at the House of Mouse. Disney CEO Bob Iger said that major changes were being put into place immediately in an effort to cut costs of more than $5.5 billion. This includes workforce reductions, as well as a restructuring of the company. Shortly before the first layoffs, Disney asked upper management to create lists of their most “redundant, disposable” employees so that those “useless” Cast Members could be among the first to go.
The first waves of layoffs hit hard as the chairman of Marvel Entertainment was relieved of his post, and high-level execs at ABC News were also let go, setting into motion a major restructuring within the entity as well. But as difficult as the first wave of cuts was, the second wave is being described as “a bloodbath.”
As of the time of this publication, Disney’s EMEA (England, Middle East, Africa) sector is preparing for cuts, though the company has not disclosed who will be laid off next.