🐠 Become a MEMBER of The Reef at http://ClownfishMinus.com Why is Disney laying off corporate staff? Disney laid off 300 corporate staffers in July 2023, primarily in HR, legal, finance, and communications, as part of a cost-saving initiative to optimize corporate functions while keeping theme parks, ESPN, and Disney entertainment unaffected. How have Disney’s DEI efforts impacted hiring practices? Disney’s Diversity, Equity, and Inclusion efforts may have led to hiring activist HR managers who prioritized candidates based on skin color/gender over skill set, resulting in unqualified hires costing companies hundreds of millions and necessitating a massive course correction. What changes is Paramount Global making to its workforce? Paramount Global is implementing a 15% workforce reduction in the US, aiming to cut 2,000 jobs total, with 90% of reductions complete, saving $500M to accelerate streaming profitability and adapt to the evolving media landscape. How is Disney+ performing financially? Disney’s streaming service, Disney+, which was projected to be profitable in 2023, is now struggling, with the company investing heavily to acquire the remainder of Hulu while facing competition from platforms like YouTube and TikTok. What broader trends are affecting the entertainment industry workforce? The entertainment industry is experiencing widespread layoffs, with companies like Fox Entertainment and Warner Brothers also reducing their workforce to squeeze money out of assets and adapt to changing market conditions. What additional motives might be behind Disney’s layoffs? Beyond cost-cutting, Disney’s layoffs may serve to streamline operations and undo damage by removing activist HR managers who hired based on diversity metrics rather than qualifications, potentially addressing longer-term organizational issues. ➡️ Official Merch Store: http://ClownfishMinus.com ➡️ Audio Podcast: https://link.chtbl.com/ClownfishTV ➡️ Official Website: http://ClownfishTV.com ➡️ Official Clownfish TV subreddit: https://www.reddit.com/r/ClownfishTVOfficial/ Disney and Paramount are implementing significant layoffs in response to declining streaming revenues and a shift towards prioritizing profitability over diversity initiatives in the entertainment industry. 00:00 Disney and Paramount are laying off numerous corporate employees due to declining streaming revenues. 00:32 Hollywood layoffs focus on HR and legal roles, indicating a shift from diversity initiatives to prioritizing profitability amid failing strategies. 02:47 Disney is cutting 300 corporate jobs to save costs, raising concerns about its company culture and decision-making. 04:50 Disney and Paramount are laying off employees and cutting critical positions to manage costs amid economic challenges and unmanageable activist demands. 07:25 Hollywood faces instability as Disney and Paramount announce significant layoffs amid financial struggles and a shift towards profitability. 10:43 Disney and Paramount are cutting jobs to focus on cost-saving measures and marketing, as kids shift to digital viewing over traditional TV. 12:53 Disney and Paramount are laying off hundreds of employees to cut costs amid financial struggles in the entertainment industry, driven by unprofitable streaming services. 16:21 Hollywood faces significant job cuts, potentially relocating outside California as audiences shift to platforms like YouTube and TikTok. About Us: Clownfish TV is an independent, opinionated news and commentary channel that covers Entertainment and Tech from a consumer’s point of view. We talk about Gaming, Comics, Anime, TV, Movies, Animation and more. Hosted by Kneon and Geeky Sparkles. Disclaimer: This series is produced by Clownfish Studios and WebReef Media, and is part of ClownfishTV.com. Opinions expressed by our contributors do not necessarily reflect the views of our guests, affiliates, sponsor