Bah gawd, that’s Bob Chapek’s music…

The Chief Disney Adult (read: CEO Josh D’Amaro) is going all Larry Ellison… again. Per Bloomberg, the House of Mouse is weighing thousands more job cuts across its ~231,000 Happiest Employees on Earth, and some managers have been told to find up to 20% in annual savings to jump start Mickey’s next cost-cutting phase. Heads are expected to roll hardest at the theme parks, TV networks, and movie studio.

As for the stonk, it barely budged (+0.08% in overnight trading). For context, DIS has logged seven monthly losses this year. Down bad. Disney reports Q4 on Nov. 17, and analysts expect $25.1B in revenue and $1.69 in EPS

If it feels like you’ve already seen this movie, it’s because you have. Josh, who took over from Bob Iger in March, sh*tcanned ~1,000 people in April. Then came July’s animation bloodbath, a few hundred in HR and IT in September, and 159 at Imagineering last week. Oh, and back in August, Disney’s Chief Firing People Officer offered execs early retirement packages, warning that the involuntary kind would keep coming into next year.

Check on your Disney friends today (no joke).

Not that the last guy was any different. Bob Iger cut 7,000 jobs in 2023 to save $5.5B. This summer, he and Josh Kushner agreed to buy the Lakers.

“How else was Bob going to be able to afford the Lakers?” - you, probably… 

So where’s all that savings going? The former Parks boss plans to pour some of it back into movies, TV, and tech… plus theme parks and cruise ships (the Disney cruise crowd is fully bricked up). Friendly reminder, last month, Disney backed up the Brinks truck for 60+ Character.AI staffers (roughly $1M a head), which, priorities.

Bloomberg blames weaker box office, streaming competition, fewer international park visitors, and growing AI use (Toy Story 6 is still boutta be AI slop). Disney’s not the only one cutting, either. The inventors of chilling (read: Netflix) axed ~6% of their staff last month. And Warner Bros. Discovery spent years trimming before David Ellison’s Paramount Skydance swallowed it whole (ayy).

Of course, Josh was always gonna keep putting out for his ex. Oh, ¯\_(ツ)_/¯. Place your bets accordingly, friends…

Until next time, friends! 

At the time of publishing, Stocks.News holds positions in Disney and Netflix as mentioned in the article.