Today during earnings, Disney announced layoffs (7,000 / 3%) but haven’t even notified people yet if they were impacted. Nor has the company given a timeline on when people will be notified. Managers and execs are in the dark too. Instead everyone is just left to wait and hope it’s not them. It’s a very cruel and horrible way to handle this. Definitely not the happiest place on earth. TC: 260k #layoff
That's messed up. They decided last week they want the stock to pop 5% during earnings call today. They're compiling the list now with a random generator, using chatgpt
Who cares. Bottom 5% is generally culled over time. All jobs are temporary
These were senior level positions that were “culled”. Not just entry level or new hires. The difference here is GoDaddy was leading everyone on with the false pretense that everything was ok, when in fact it wasn’t.
If you don’t care, then why comment? I doubt I’m effected but I’m posting here because people deserve to know what the company is actually like. That’s the entire point of this app, helping people be informed about what companies are actually like. Also, the idea that it’s the “bottom %” is such horseshit, I know people at other companies who simply got unlucky that they ended up on a team that wasn’t critical path. GTFO of here and try working on being a more empathetic human.
We can relate, sorry it sucks.
Now layoffs are spreading to non-tech fields.
Yep, there are other companies over the past couple weeks too. Found this: https://layoffstracker.com/non-tech-layoffs/ Though for Disney people are thinking tech workers within the company are going to bear the brunt of it (based off of statements made by Iger in the earnings call)
Don't you mean marketing? Reduced marketing going to account for 50% of cost cutting. Labor 30% - have to think labor will come from marketing? He's maintained that streaming is the priority and the future - hard to think he'd be cutting engineering headcount for DSS. Who knows.
Isn’t this what people kept asking for in other company layoffs, that they wish they had some notice? What is the issue with being told they’re coming but also being kept in the dark?
Not exactly, I think people would’ve liked if they were informed by the company at some kind of all hands or in a public setting and then those affected notified after. But having them wait around for possibly days, weeks, or months is messed up and par for the course of how disorganized of a company Disney is
I’d rather be kept in the dark and employed with a paycheck (although freaked out) then get a Mass Layoff email the day before or after the earnings call. Just breathe….breathe.
Is the 7000 mostly park employees or would SWEs be affected?
I doubt it is park employees, as parks is doing well
Mostly marketing and headcount at DMED