The Disney Layoffs Will Be BRUTAL...

0:001, 2, one, two, 3, 4, give me a break, give me a break Break me off a piece of that kickcat bar Give me a break, gave me a break Break me off a piece of that kickcat bar The chocolate crispy taste is going to make your day And wherever you go, you hear the people say Give me a break, give me a break Break me off a piece of that kickcat bar Have a break, have a kickcat All right guys, so we're gonna talk about Disney. We don't talk much about Disney on the channel much these days because a lot of you don't even care about Disney anymore, right? So it's another daily dose of Disney, but we've been talking about the situation with Jimmy Kimmel and how they're going to probably tell him he's got to cut his budget or get gone. And now they're saying they're gonna be more budget cuts across the company that they're gonna be a lot more layoffs pretty soon and they're buying back eight billion in stock.

1:04It's gonna be bad. It's gonna be a blood bath at the house of mouse. Okay, but is it okay when they make cuts? Is it okay? Yeah, is it because everybody was talking about all the catastrophic job losses from the merger, from Paramount and Warner Brothers. Yeah, Disney's gonna cut a lot of people. They're even talking, I don't have access to that article, but Puck was apparently talking about they might even restructure the company again and collapse a lot of the business divisions into each other. We won't know until probably the, you know, after the fiscal years over, but there are already rumblings that things are gonna not be good. Not be good. Well, obviously, if they're gonna try to talk about doing a much layoffs and things. Oh, yeah. It's obviously not good. And the thing that's performing for Disney is their theme parks and they're nickel and diamond, those people and attendance is probably down there too. Yeah, they're doing better than universal. Last time I checked, but it's still not like record breaking attendance. It's like the economy sucks, right? It's expensive. It's, people were already broke.

2:06They can't afford food. They're afraid to lose their jobs because of all the layoffs in white collar workers. And that's, that's actually a big chunk of the people that go to Disney or the white collar workers making over six figures and a lot of them are losing their jobs. And then they just keep jacking the prices up. So. I was doing a story and they were talking about the average, then they average it out. Like, this isn't the lowest cost, but it's the average cost for a family of four for Disney, like vacation is like over $7,000. Oh, yeah. Yeah. And it used to be you could take a family of four if you drove and you were careful with your money when it came to food. You got small children and eat very much. We did trips before. There were like two or three thousand. And those days are long gone. Like you're lucky if you can go down as a couple for the weekend for that. It's insane. So let's, let's talk about this before you end today further. Please subscribe for more pop culture news, views and ran sky. As you get, who have you to do? Go at clownfishTV.com. That's clownfishTV.com for more podcast and episodes.

3:07You will not find anywhere else. $5 a month gets you pay-walled content. There is pay-walled content out there. So check it out. Help support the channel. We don't do endless super chats over here. So this is the best way to support us. Thank you very much. All right. So this is coming from ink.com. Disney is buying back eight billion in stock as employees face layoffs and stricter office rules between strict attendance tracking and ongoing restructuring. Working at the entertainment giant is losing its magic. Oh my God. And we've had years restructuring at this point. Oh yeah. And then I heard this restructuring all long ago. And now Demaro is going to restructure it again and cut more jobs. Yes. So now the employees are getting fed up with it. So we're because it used to be like working for Disney was a badge of honor. It's like, oh, geez, I'm sorry. They're talking about how in April they laid off a thousand employees. And they said Josh Demaro is actually behind a lot of the cuts. He said the reason for the decision was an effort to more effectively manage our resources.

4:08That means we're not making as much money as we used to. So we got to look good for the shareholders. We got to fire somebody. That's what it is. It's about shareholders. But one of the employees who got cut was Chris. Chris from Orlando who worked for Disney for 31 years. I don't know. He was in Orlando, but yeah. This was followed swiftly by hundreds more layoffs in July of the SPN National Geographic and Pixar Pixar. They just had a massive hit with Toy Story 5 and he still got fired. And that's what's crazy about this. Right? I don't know about the Chris, but that sucks. Like 31 years you've been there. Like that's a lot of time to dedicate to this company. And they just like, yeah, you're out. We're just, you know, the culture at Disney has changed. You know, I know people are like, you guys are so negative. I'm like, even 10, 15 years ago, it's not like it is now. Like it, it was a corporation, but it didn't feel like a corporation. Now it just feels cold and sterile. Yeah, but Disney difference is exactly what they're showing you it is. Oh, yeah. This is who they are. This is who they are. So they said, yeah. Now they're telling people they have to get back into the office or get gone.

5:11So this is a Phil Schubottom who sounds like a Harry Potter character. You're in the wrong park. He's spent more than a decade at Pixar until his departure in 2024. They said Pixar's greatest asset has been people treating, yep, treating them as numbers is not just cruel. It's a failure to understand where the company's real value comes from. Not just Pixar. It's across the board. It's across the board. And you know, hoppers, if hoppers had done better, maybe. Look, here's the thing about Disney is the people do make different, especially with the park level. Like, it's the cast members that interact with people and make magic that people bring people back over and over again. But they're usually the ones that are treated like shit, not paid well and cut as soon as something happens, while executives get to stay in the cushy jobs. Oh, yeah. Yeah. Unfortunately for Disney employees, there are indicators that there's still more job eliminations to come. And August Disney offered early retirement buyouts to execs who are at least 50 and tired old gray horses and have worked at the company for at least 10 years that they're combined age and 10 year ad up to 65. According to variety, though, the strategy is the precursor to future layoffs.

6:12For example, earlier this year, Microsoft launched a similar buyout program. A few months later, they announced the layoffs of almost 5,000 people. Yes. If you get offered the buyout, take it because they're going to get rid of you anyway. At least this way you get something. Yeah. And we said that before because you're you're better to leave with your your head held high and some severance in your package than the holdout for a few minutes. So severance in your package. Oh, no, I don't think sever and package should be in the same set. Or to hold your head up high and get severance package and you're just wait and and have them just chop you because they're going to. There are people aren't going to get anything and they're just going to be chopped because they aren't offered buyouts. They're just like, well, you're good load executives. So screw you. For the employees who remain Disney is cracking down on their return office policy. So this is this is okay. This this one is how they're trying to separate the wheat from the chaff, though, because you have a lot of people that want to work from home and I get it. Some people some people are more efficient and more effective at home.

7:16But everybody wants to work from home and get paid the big bucks and not have anybody looking over their shoulder while they don't do anything. So like I'm sorry, I'm not paying you $150,000 a year to watch cartoons with your kid for six hours a day and then work for like an hour and a half at the end of the day and make it look like you did something. That's what they're all admitted. I'm one of those people who gets excited for football season way before the first kickoff. That's why a trip to total wine and more has become part of my game day routine. I can get the cooler ready with my favorite beers and ready to drink cocktails. I'm usually picking up enough for everybody. So it's nice knowing I'm scoring the lowest prices. This season make total wine and more part of your game day tradition. These are not sold in Virginia and North Carolina. Drink responsibly B21. That does happen a lot. I'm not saying everybody. People are like, well, I work at home and it's fine. Yeah, I get that. The one company that let me tell a commute, I had to work there in person for five years

8:19to prove I actually was going to work. And even then they still pull against me like they would do random phone calls. You better be at your damn desk. You know, and there's times when you were in the bathroom and that's when he decided to call it and it made it look like you weren't there. And it's like, I was literally in the bathroom. Yeah. So it's like, yeah. And I was doing above and beyond what I was supposed to be doing. Doesn't matter. They think if you're at home, you're just hanging out. It's a weekend and whatever. And some people do take advantage of it. A lot of people take advantage of it. Some people work multiple jobs from home. They tell a commute and then they take checks from like three or four different employees to a portion. Oh, yeah. That's like a big, a big Gen Z hustle now, apparently. I mean, I guess if you can do it, whatever. You don't know what you're talking about. And it's like, yeah, we do actually work telecommute for years before it was the common thing to do. So we do know what we're talking about when we said that. Anyway, I had to earn it. I had to earn it. Most employees were already mandated to be in office at least four days a week. Business Insider reported there were some product and technology teams that were still working remotely or where the four day rule was not strictly enforced.

9:23So there could be serious consequences to not obeying the return to office mandate employees who don't meet the attendance requirements, maybe fired according to a report in people matters. Wow. Employees who previously enjoyed having the flexibility to work from home may have to make difficult decisions in the future. Yeah, this is how they're going to get rid of you. They said in some ways, Disney has corporations flourishing and their latest earnings call, they discussed with investors their plans to spend eight billion on share buybacks as an employer, the operators of the happiest place on earth seem to be building an increasingly strict and volatile volatile. It's volatile because you have to have your button office four days a week. I mean, that's like, that's called normal for most people. It's called normal. But it is really interesting, you know, some of the stuff that the CFO, he was actually saying the other day, it was all about like, it seems like they're all about more microtransactions, more monetization. It's like they're, yeah, it's, they're going to look to cut corners and unfortunately, most of the corners they cut are with people. But the hard truth is a lot of people are hired at these companies when times are good

10:27and they're not really necessary to make it go. Well, it related, but different topic, while they're doing this and they're talking about, you know, voluntary layoffs and things like that, they're also initiating something on the Disney Parks travel agency side. Oh, yeah, talking about that. Normally you can like get a travel agent that's an affiliate travel agent with Disney. It doesn't cost you anything. And they'll book your trips and make sure your reservations are made for dining and different things and they'll do it all for free to you because they get paid via Disney. Yeah, so basically they're doing a beta test for a few people, but they're going to do an AI planner that does a whole bunch of the things that the Disney travel agents do, but they don't have to pay travelers agents now. They get to keep all the money. Now, it doesn't do everything. I can only do, like if you have like four or five family members each taking their family and you want to do group deal or you want to be booked for multiple rooms, things like that. It can't do that yet. It all, what it will do is it'll tell you whatever the best deal is before you confirm

11:29and check out for your trip booking or a travel agent can actually go back, rebook your trip and get you the best deal later. They're not talking about that. But what this is going to do is all that money they pay out to agencies and pay people that's their job that they are now going to keep all of it. People you have to be forced to use this AI tool to book your trip instead of using a travel agent, which makes it a lot easier for people. I was still recommend using travel agents because there's a lot of things this does not do. Plus, it's not open widely, but that's what they're already rolling out here to try to squeeze. This is not that what a healthy company looks like. When you're nickel and diamond and squeezing every little thing, it looks to me like you're trying to save money because you're falling apart is what it looks like. When you're laying off other people, when you're using AI for something like this because you don't want to have to pay travel agents, the pit and you pay them, it does not look good as a company and the whole that you are doing really, really well financially. It looks to me like you're just trying to squeeze what you can to give investors more money. They raise your stock thinking you're doing well financially. Well, yeah, and that was the thing too.

12:29I think it was, I can't remember which firm it was, but they said they want the target for Disney to be $134 a share, something like that. They're down like $105 a share. There's all this talk from Wall Street of bumping up the Disney stock price that they want the Disney stock price to be another $30 from where it is. The only way you can do that, again, is to make it look like you're making more money. You're going to see more nickel and diamond, you're going to see more monetization, you're going to see more movies, re-re-re-re-re-released in theaters because that's quick money. Anything that's quick and dirty fixed that they can do before the end of the year. The end of the fiscal year is the end of this month. We're talking the, not just a quarter, the fiscal year. That's part where they're trying to push some of the stuff through or test it out now so they can launch next year with it or say next year we're going to cut a bunch of people in the new year and stuff like that. That's what they're going to do. Yeah. I think we are going to see some major changes at Disney.

13:30It just looks like they're getting ready for that. Never for the better. Never for the better. Never for the better. But the fact that they're getting rid of a lot of executives and they're throwing people overboard tells me that they're getting rid of people because they know they're not going to need as many people. I don't know what that's going to look like, but I think you're going to see a lot of cuts. We can do a follow up on the Jimmy Kimmel thing too. Everybody shocked about this. He's doing so good, guys. Why would Disney cut his budget? Oh, it came out that that was true that they're cutting his budget. Yeah. Yeah. They were going to cut his budget. Yeah, they said they cut the view too. Is there going to be a person to cut Kimmel? Yeah. So they're trying to do everything on the cheap now and this is going to happen with animation too. And I'm sorry. We did that video last night. To that animation, I can guarantee and freaking to you that Disney is going to start using more AI or outsourcing or something to get animated movies and TV shows out the door a lot faster. A lot cheaper because it tells me the company as a whole is not healthy. No.

14:30So the fact that you're just desperate to cut any corner you can, that's not a sign of a company that's making all kinds of money. No, and they're already, I mean, look at what's happening with Marvel too. This is the week, I guess, that the people working at Marvel are given the ultimate momentum, either go to California on the campus that we already paid for, right? Instead of paying the New York rent or not. And they know a lot of people are going to say no because they can't move because their families are in New York. So there are homes are there. They're locked down there. Yeah. Right. So they're not going to move. Obviously, and they know that. So they're going to be like, you know what? And they only gave them like two or three months to make a decision. And they're just going to be like, well, well, I guess we just saved a bunch of money because you know, half the staff of Marvel is not going to move. Jobs do not have to be in the campus. But again, they're congregate in the office. But others jobs don't have to be done in house. No. I don't know about you, but I get pretty excited when football season rolls around. That's why I always make a stop at total wine and more before kickoff, whether it's craft

15:32bourbon, cold beer, or ready to drink cocktails. It's easy to build a lineup that keeps everyone happy. And when I'm getting everything ready for game day, it's nice knowing I'm getting the lowest prices. And total wine and more part of your game day tradition. Spirits are not sold in Virginia and North Carolina. Drink responsibly. Be 21. Um, it is what it is though. It's like, I mean, again, do we need now? We need to have people work comments. We need not many ayes. We need to train. How many H1B visas do we? Yes. It's every place these people. Well, they've done it before. They've done it before. And they got in trouble because they were people that were doing like the, um, thinking the calls and stuff and different jobs several years ago. They were training their replacements who were brought in on visas. Yeah. From like India and crap and they were training their replacements and they were making them do it to be true because they were, they were cheaper. And that we, there was a big stink. That was before we started really doing YouTube a lot. So that was like what 2017, 2016, there was a bunch of crap going on. Then it was a big deal. But what do you think the college programs all about? College programs, it's not, it's not to educate the youths to send them out into the world

16:36or create future Disney employees. Happy Disney employees. It's to get cheap free labor. Well, they pay them a little bit cheap. It's cheap. And then you get to live there and you get to be beholden to the mouse and then they take up big hunk of your pay for your room and board. So it's literally the company store and that's why they're doing it. But it's not doing it for the young people to have internships. But how is it an internship to run? I'm a business major. Great. You get to go run it's small world. How is that a flip an internship? In fact, internship is supposed to do with what you're majoring in. But you're a business major, make some popcorn. We're in the business of selling popcorn. That's what we do. You're business is sell these balloons, you know. Business is business. And if Karen complains and you give it back to her and she gets it on the video and it goes to take time, you get fired. Even if you try to walk away from her and she follows you with the cell phone, you still get fired. We're talking about what happened to an actual real girl that was on the college program. This actually happened to her. Yes. They this Karen, I forget what was was it like the bubble blowers or the light ones

17:41or something? No, she had balloons. I don't know what they think. She was, she was, yeah, she had the cart with the different stuff in the room. Yeah, different. You've seen this cart all over the place. And yeah, the Karen was being difficult. The girl was actually being very polite and then she got fed up and she walked away because she's like, I'm going to say something I'm going to regret. She's still got fired. So, you know, I mean, what are you going to do? Yeah, I think look for some cuts. I think that especially after the end of the year, this is when they always lay people off. And the fact that they're preemptively offering buyouts tells me it's going to be really epping bad. Yeah. It's going to be bad. Oh, I think it's bad now. And I think they're trying, I think they're doing everything they can to try to make the numbers look better for the end of the year. So when they present to the, they know they're going to have to make more cuts next year, but they want to have a better idea how to, how to spin it positively to the investors and to, you know, basically the customers. So they're trying to wrap up as much of this as they can by the end of September. Yeah. You know what would have helped them save money as maybe not buying Fox? Well, yeah. There's a lot of things.

18:41Maybe not letting, you know, I grew up and buy everything he wanted. Maybe not running Star Wars into the ground and listening to the fans. Maybe not running Marvel into the ground and listening to the fans. Maybe not paying the celebrities as much as you're paying them to be in the Marvel movies because they're, you know, getting paid a ridiculous amount of money. There's a busy and things. Maybe not, you know, charge watch in the parks. People can afford to go there. Yeah. You guys are dumb. I'm so tired of it. Your answer is just squeeze harder. And you know what? You just, you just broke the rocks. No one wants to go there. Some people do. Some people would like to be squeezed very hard to the rocks break. I'm just telling you, there's a lot of people I'm seeing more and more and more. I've been diehards on the boards because I told you I've been doing this for years with Disney and I'm all on the message boards. And they're like, I just can't do it anymore. It's too much. Yeah, it is. It's, I mean, we used to go all the time and it's even like, I'm working out like I can't justify the expense. It's, it's insane. Anyway, we're going to wrap it up. Yep. Paul, please subscribe. We'll talk later.

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