Posted on 11/06/2020 2:24:20 PM PST by marcusmaximus
Following up on the news this morning that ESPN is laying off several hundred employees, we’ve learned that there are also a handful of layoffs taking place at Disney’s studio division – including six people at Searchlight Pictures. Other areas impacted include Disney’s studio marketing group as well as its theatrical stage team in New York, which has been hit particularly hard by the pandemic with all of Broadway shut down.
While the ESPN layoffs were reported at approximately 6% of its global team, we’re told the studio impacts are far less and also include the elimination of several hundred open positions.
Similar to what’s going on in the entertainment industry right now with today’s 15% workforce reduction at Lionsgate Motion Picture Group, Sony’s layoffs last week and NBCUniversal’s TV and streaming unit cuts commencing in mid-November, the impacts at Disney are from the ongoing results of the COVID-19 pandemic, as well, as the studio’s strategic restructuring, which many conglomerates are going through right now.
The whole town is dealing with the balance of delayed theatrical releases until 2021 and eventizing once-planned tentpoles on streaming and PVOD platforms. Further impacting the immediate theatrical release landscape, even if New York City and Los Angeles reopens in the near future, is the fact that most of Western Europe is under lockdown again as COVID-19 cases have increased.
(Excerpt) Read more at deadline.com ...
Good riddance.
Boo freaking hoo
Massive layoffs for media, news and hollyweird between now and end of the year. Enjoy!
I question when people may go back to movie theaters. You have a lot of high profile movies on hold and it is costing the studios a lot of money in extra interest payments.
Example, the new James Bond film is a $300 Million dollar film, the delay is costing them an extra $1 Million a month in extra interest charges.
My guess is that they will have release to make what they can and they will end up on Pay per View at whatever the market will bear. I personally would pay a bout what I would pay to go out, say $20 to $25 to see a first run film. Only thing is the price may cut down on repeat business.
The best part is that movie production has been shut down for almost a year and with the pipeline full, it might be 2 years of no production. This is really good news because many of the hollyweird types won’t have income coming in for 2 years. They are already dumping their homes at big losses in LA and NYC. And no concert tours either. So no money for them either.
Seems like they must be following a bad business model. Hmmm...wonder what it could be...
Well said.
Well, that’s a bit of good news for the day.
Very true.
Next Thursday is going to be a great day with massive layoffs at some big “news” organizations. Massive cuts.
Was in the final hiring process with Disney VR when this came down. Job put on indefinite hold.
That’s at least 12 decent positions that fell through since March.
No one is hiring. I can’t and will not do manual labor. I will have to try to game the system and try for disability.
There won’t be any hiring next year either in the USA. Disney, Comcast, AT&T wanted this shutdown to get rid of Trump and appease China. Now they killed a good part of their business for 2 years as a consequence.
I’m one of those Hollywood production types, with my career geared towards games and media productions. I can’t do traditional IT as Indians totally dominate standard software engineering and IT in the US.
So should I just go and shovel shit as the the entire media, travel, resort and entertainment industry has crashed and burned since March?
It looks that way.
Defund and destroy anything associated with disney. Do something else.
They feed our young and some adults false impressions about just about everything. Talking animals...magic carpets...talking fish...extraterrestial pre earth civilizations. They used to try and mimic real things with a bit of whimsy....now they think their whimsy and beliefs are reality.
Covid has taught us what we really need.
Then I better just apply for disability as I am unable to do any type of physical work due to a bad back, bad knees and a mostly worthless left arm (no thanks to a drunk driver back in 1987). Can’t even stand for long periods of time.
So I did a career requiring mental acuteness and knowledge and not requiring physical strength, and I was able to be a contributing member of society for 35 years.
Lots of businesses are going down. Big talk about AI docs and pharmacists and telemedicine. You are not alone. Get your hard earned taxes back...and start a small botique business....like web design..teach night school graphics....or lawn care/gardening? Building home and vegetable gardens for super busy soccer moms..lots of niches to fill...oh...and design a killer game too. Good luck.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.