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In an effort to stem the financial bleeding, Disney has announced widespread layoffs, with over 7,000 employees getting the axe in recent months. The company’s streaming platform has also suffered significant setbacks, losing approximately 4 million subscribers in a single quarter. To cut costs, Disney has implemented massive content cuts and aimed to save over a billion dollars—an indication of the deep financial holes they are trying to fill.
The Deep Impact of Failed Productions
One of the most glaring signs of Disney’s struggles is the failure of "Lightyear," a spin-off from their highly successful Toy Story franchise. Despite the franchise’s massive popularity, "Lightyear" turned out to be one of Disney and Pixar’s most embarrassing flops in recent memory.