Elizabeth Warren Hammers Disney Over Theme Park Layoffs
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variety.comDave McNary Film ReporterSenator Elizabeth Warren has blasted Disney over its decision to lay off 28,000 employees, asserting that the entertainment giant’s priorities are unfairly weighted in favor of shareholders and executive pay packages.Warren issued the accusations in a letter released Wednesday, two weeks after Disney announced the layoffs and blamed the state of California’s “unwillingness” to lift COVID-19 restrictions that would allow Disneyland to reopen.
Disney hit back by saying Warren’s letter contained “inaccuracies.”Warren said Disney depleted its capital cushion by “showering its top executives with over-the-top compensation packages and salaries” and spending $47.9 billion on share buybacks between 2009 and 2018.
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