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Credit: Inside The MagicFor decades, it seemed that The Walt Disney Company could do no wrong — the stock was strong, the parks were incredible, the movies were great, and, most importantly, guests and shareholders were happy. Of course, it had its ups and downs, as any company would, but the Mouse House always seemed to fight back and come out on top.
Unfortunately, things seem to only be going downhill for the once-thriving studio.
Now, fans and experts will debate when the downward spiral really started, and many fans might blame it on former Disney CEO Bob Chapek, who was fired in 2022 after less than three years at the helm. However, Bob Iger has been back in charge for nearly two years, and things still aren’t going great. Many Disney fans have reached their limit and simply stopped supporting the company.
These struggles have caused Disney to lay off thousands of employees in just one year. The big layoffs began in March 2023, with more than 3,000 cast members finding themselves on the unemployment line. However, they didn’t stop there. This past May, Disney-owned Pixar Animation Studio laid off more than 170 employees — 14% of its workforce.
Related: What the Heck Happened to Bob Iger?!
On August 4, another 140 Disney cast members working in Disney Entertainment Television also learned that their jobs were going away. According to reports, more layoffs are coming, and cast members are bracing for impact.
ABC News staffers are bracing for major cuts as the Disney-owned network slashes budgets — with even those at top-rated “Good Morning America” on the chopping block, The Post has learned.
The Mouse House has demanded that “GMA” reduce its bottom line by a whopping $19 million, up from previous projections of $17 million, before the end of Disney’s fiscal year on Sept. 30, an insider with knowledge told The Post.
It’s the behind-the-scenes staffers like bookers and producers who will likely get the shaft, the insiders added.
“They all have contracts, so there will be no cut at that level,” a former ABC News exec said of the hosts, who are estimated to make between $17 million and $18 million each. “But they will have to cut jobs.”
However, the network’s top talent, including hosts Robin Roberts, George Stephanopoulos, and Michael Strahan, are reportedly safe, and their jobs are not at risk.
Things have not been running very smoothly at ABC News and Good Morning America as of late, which is possibly why the hit news show finds itself riding the unemployment train.
ABC Has Been Struggling For Months
In late 2022/early 2023, Amy Robach and T.J. Holmes — the cohosts of GMA3: What You Need to Know — were fired when their affair became public and made headlines. Their affair reportedly affected the rest of the GMA team and ABC News in general, and then-ABC News President Kim Godwin was criticized for the way she handled it or her lack of handling.
Related: Disney Allegedly Bans Celebrities From Its Parks After Cheating Scandal
Earlier this year, Good Morning America was dealt another blow when popular meteorologist Rob Marciano was fired due to his poor behavior and scary outbursts. After he was fired, it was revealed that he treated his coworkers so poorly that he was actually banned from the GMA studio. Again, Godwin’s hands-off approach to running ABC News was criticized.
Just days after Marciano’s firing, Kim Godwin announced that she was stepping down and leaving the company. Godwin said that she was leaving to pursue other opportunities, but reports indicated that if she didn’t quit, she most likely would have been fired. Disney had brought in Debra OConnell to oversee the job Godwin was doing. OConnell was reportedly shocked at how hands-off Godwin was and how bad she had allowed things to become.
Disney has not commented on the potential layoffs.
Do you think layoffs are the answer to Disney’s problems? What do you think its biggest problem is? Let us know in the comments!