Marvel Hit Hard With Next Wave Of Disney Layoffs
Image Source: Marvel
An egregious number of layoffs have hit Marvel, and have also impacted numerous other areas within their parent company.
Per a memo issued by new Disney CEO Josh D’Amaro, the layoffs are part of efforts to “streamline operations” at the Walt Disney Company, and sees the company shedding around 1000 employees across all areas of Disney’s media holdings.
However, the hardest hit is Marvel, which is losing almost its entire Visual Development team, among many other layoffs across its operations. This team worked to create countless Marvel films and television projects over more than two decades, and many of those let go were not newcomers, having been at the company for years, many over a decade. Social media posts about the layoffs point to the bitterness felt by some of those being let go, who invested a lot of their artistic efforts into the studio, only to be cut loose.
Those who remain are a skeleton crew of full time production staff, who will be in charge of “the hiring of resources on a per-project basis,” per Forbes. They also report that D’Amaro stated in a memo: “These decisions are not a reflection of their contributions, or of the overall strength of the company. Rather, they reflect our continual evaluation of how to more effectively manage our resources and reinvest in our businesses.”
That’s corporate speak for “We need for the red line to go up, up, up, at any cost,” and any short-term stock gain for Disney is unfortunately an immediate boon to the new leadership. However, the long term costs of this move may be dire, and there is a real human cost to such a brutal strategy in the name of finances. Hundreds of incredibly talented individuals will no longer be working on creative projects for the company, and one can only hope they can find new work with other studios or in other projects, soon.
CultureSlate: Made by humans, for humans.
Please consider supporting our AI-free content via our Patreon page.
READ NEXT:
Source(s): Forbes
Latest News
Featured
