Morning Wire Walt Disney Layoffs & Alaska Mine Shutdown | 2.10.23
Feb 10, 2023
Disney is laying off 7,000 employees despite solid earnings, raising eyebrows about corporate restructuring and its impact on family-friendly branding. The EPA's controversial veto of the Pebble Mine project in Alaska sparks debates over environmental conservation versus economic growth. Additionally, classified documents found at the Penn Biden Center create buzz around potential political scandals. Former FBI agents share emotional testimonies, highlighting allegations of politicization within the bureau.
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Disney Layoffs and Restructuring
- Disney's Q1 2023 earnings were better than predicted, but some divisions underperformed.
- This led to 7,000 layoffs and a restructuring into three divisions: entertainment, parks, and ESPN.
Parks Division Performance
- Disney's park division performed well due to increased ticket prices and fees under Bob Chapek.
- Returning CEO Bob Iger, while critical of these price increases, seems to benefit from them.
Disney's Content Strategy
- Despite criticism, Disney likely won't change its approach to including gender and political themes in content.
- Sources suggest Marvel will lean further into these themes, potentially impacting profitability.