Posted on 09/29/2020 3:50:24 PM PDT by Hojczyk
After Disneyland’s home of Orange County failed to move up in state’s ‘tiers’ of COVID-19 recovery to a level that would have allowed partial reopening, Disney announces massive job cuts
The massive job reduction was the most eye-opening among several severe cost-cutting measures made by Disney DIS, -0.46% , which has lost billions of dollars in potential revenue because of suspended operations at its amusement parks, live-production units and cruise lines since COVID-19-imposed closures dating back to March. Disney said in its most recent earnings report that COVID-19 had cost its theme-park business roughly $1 billion in operating income in its fiscal second quarter.
“As heartbreaking as it is to take this action, this is the only feasible option we have in light of the prolonged impact of COVID-19 on our business, including limited capacity due to physical distancing requirements and the continued uncertainty regarding the duration of the pandemic,” D’Amaro wrote in a letter to employees.
About two-thirds of the 28,000 who lost their jobs worked part-time, according to D’Amaro. The company did not specify how many were specifically laid off from the parks, with executives and others from the division also facing cuts.
Disney’s parks and resorts division employs more than 100,000 in the U.S.
(Excerpt) Read more at marketwatch.com ...
Ain't tyranny grand?!!
The Golden State.
It’s too bad there’s no one like Walt Disney around anymore.
It really takes a special kind of creepy to wreck The Happiest Place on Earth.
They’re suffering bigly, like workers in other states with oppressive Democratic governors.
ESPN has been a cash drain on Disney after colin kaepernick ...and is really bad now with the virus and politics..
They were raising the Park ticket prices to cover ESPN losses
Disney could go bust..the only thing they have is streaming..and toys
Disney has probably ordered thousands of low paid H1B replacement workers.
It’s a Small World! Namaste.
Thanks to Governor Numbnuts.
Disney is friendly with China, they could pivot and use the park as a place for pregnant for nationals to vacation for a few weeks until they have a baby in America. Could proove quite lucrative.
Citizen of Disneyland.
Sounds like the unhappiest place on earth.
Communism works well for the inner circle.
After finding out some churches took millions in COVID payroll protection, I must ask how much Disney has and continues to take.
What are the afraid of the spigot of endless money rolling in since month after month.
Boo Hoo
Far as Im concerned they are eating the poison of the fruit they have borne. Thay can close down for good.
Far as Im concerned they are eating the poison of the fruit they have borne. Thay can close down for good.
Years ago (really really years ago), I looked forward to the Disney hour on tv.
Now, I look forward to the collapse of all things Disney.
Eff them and the trash they now try to ride in on.
Ain’t no Walt running that trash house any mo.
California is a one party state. They have even rigged the elections so a Republican has little chance of winning, and if a Republican appeared to have a chance the propaganda arm of the Democrat party demonize them.
The once Golden State is turning into the tarnish brass state.
Oh poor Progressive Leaders did you show your Progressive leaders this information?
https://www.citizenfreepress.com/column-1/cdc-publishes-new-survival-rates-for-covid-msm-goes-silent/
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