Disney Layoffs Start - Weren't There Other Options in the Happiness Kingdom?

"Disney will begin layoffs this week, the first of three rounds before the beginning of the summer that result in about 7,000 job cuts ..." - CNBC, March 27, 2023

The corporate efficiency mandate is overriding the happiness meme at Disney. Predictably the stock price is up. At 12:20 PM ET it's at 94.95. That's a long way from the 52-week high of 144.46 but investors have confidence in CEO Bob Iger to bring the stock to where it could be.

In a memo about the layoffs Iger calls it a "difficult decision." Smirk. It's a whole lot more difficult for the employees losing their livelihood. The cuts are happening primarily in media, distribution centers, parks and resorts, and ESPN. 

Some such as in media will enter a glut market for talent. What media operation isn't laying off? The falloff in advertising has had brutal effects. 

Others like the now-ex employees in hospitality enter a growing market niche. 

But it is unlikely any will be able to shake off the seemng unfairness of this experience. Isn't on everyone's mind: Weren't there other options to a reduction-in-force? The situation isn't as simple as the law of supply and demand.

Why do the people have to be the ones negatively affected? Why not slash the level of total compensation for those in the C-Suite? Or sell assets? Or introduce new kinds of marketing?

During one of the hardest times for the US auto industry turnaround leader at Chrysler Lee Iacocca declared that his salary would be one buck a year. The corporation not only ducked bankruptcy. It put out there the revolutionary mini-van. 

For decades IBM had thrived through its non-layoff policy. Around the world it also trained native talent in management. Its brand had been that of a good corporate citizen. 

When a corporation takes away a person's job it also eliminates trust in the system, an identity, the social context, and confidence. To bear witness to those extreme losses those axed could wear black armbands. Ordering them through Amazon could run as low as $6.99. As an intuitive career coach I had found the grief doesn't abate until human beings land comparable work. That's not all that possible in the current labor market. There could be a big hole in salary/perks, status, and upward mobility.

Where are you in how you make your living? Or in your job search? Intuitive career coaching offers you a new way to go about it. Take advantage of a complimentary consultation. Schedule an appointment with Jane Genova (janegenova374@gmail.com)

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