The Walt Disney Co. went woke and now it is paying the consequences, with employees bracing for a bloodbath.
Executives are expecting CEO Bob Iger to announce drastic cost cuts — including layoffs that could number in the thousands — when the company reports quarterly earnings on Wednesday, according to a Business Insider report. The cuts come amid Iger’s ongoing corporate restructuring following a disastrous 2022 that saw company profits tank and its stock plummet 44 percent.
Disney is also facing a nasty proxy fight from pro-Trump billionaire Nelson Peltz, whose Trian Fund Management owns more than 9 million shares of the company. Peltz is angling for a seat on the Disney board, looking to replace Michael Froman, a veteran of the Clinton and Obama administrations.
Peltz is unhappy with the way the company is currently being run, including the decision to pick a fight with…
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