“As we work through this evaluation process, we will look at every avenue of operations and labor to find savings, and we do anticipate some staff reductions as part of this review,” Chapek wrote.
“…I am fully aware this will be a difficult process for many of you and your teams. We are going to have to make tough and uncomfortable decisions” in order to make the company “more nimble,” he continued.
He also noted that the company will stop hiring as it reviews its procedures, looking to make them more efficient.
“We are limiting headcount additions through a targeted hiring freeze. Hiring for the small subset of the most critical, business-driving positions will continue, but all other roles are on hold. Your segment leaders and HR teams have more specific details on how this will apply to your teams.”
But rather than attributing the struggling company’s issues to its woke social policies and pro-LGBT propaganda, Chapek blamed “macroeconomic factors” out of Disney’s control.
The bad news for the entertainment giant comes after its stock price plummeted earlier this month and suffered its worst drop in over two decades.
“There is an increasing desire by our investor base to make sure there is something there, there, to get something out of it,” Chapek said at the time. “Our investors expect us to have a return on that investment.”
Chapek has seemingly put little thought into the probable reasons for his corporation’s decline, neglecting to see that streaming Satanic shows like the Little Demon might not secure American audiences.
The show follows a teenage girl, who is the spawn of Satan in human form, and can be streamed on Disney+.