Fox News reported earlier this month that new Twitter owner Elon Musk had announced a round of layoffs at the social media platform.
However, Twitter isn’t the only company which is cutting back on its payroll, as several major woke corporations are letting people go as well.
Showing signs of stress
According to Fox News, the parent company of Facebook is expected to layoff over 11,000 employees, making up around 13% of its workforce.
Meanwhile, Breitbart reported this weekend that fellow woke company Disney will be laying off workers after its stock took a nosedive this past Tuesday due to disappointing earnings.
Shares of the Walt Disney Co. plummeted late Tuesday and into early Wednesday to their lowest level in nearly a decade as concerns mount over the company’s profitability and wild spending habits on Disney+ and other streaming services. https://t.co/MiQhdlv97F
— Breitbart News (@BreitbartNews) November 9, 2022
The website noted that Variety magazine published a letter Disney CEO Bob Chapek sent out late last week in which he addressed the staffing cuts.
“Tough and uncomfortable decisions”
“I am fully aware this will be a difficult process for many of you and your teams,” Chapek said on Friday to top Disney executives.
“We are going to have to make tough and uncomfortable decisions,” the CEO acknowledged before adding, “But that is just what leadership requires, and I thank you in advance for stepping up during this important time.”
“Our company has weathered many challenges during our 100-year history, and I have no doubt we will achieve our goals and create a more nimble company better suited to the environment of tomorrow,” Chapek insisted.
He went on to assert that “rigorous review of the company’s content and marketing spending” will be carried out under the supervision of “a cost structure taskforce.” This body will be made up of himself along with CFO Christina McCarthy and general counsel Horacio Gutierrez.
Florida Gov. Ron DeSantis made headlines earlier this year when he signed legislation stripping Disney of its special tax status under state law.
The company had been vocally opposed to another bill that prohibited teachers from discussing sex-related topics with young school children.