Mass management layoffs at Domestic parks

[Enigma]

Hey guys,

I can't read the full article but it seems Disney will be aggressively buying out over 600 park executive contracts in an effort to reduce costs. This is good news since I believe the parks are poorly mismanaged. I do hope that Phil Holmes is among the individuals who will be leaving only because he truely deserves to be fired for his incompetence and would be better suited in a job elsehwere.

Here is the article for anyone who is a WSJ subscriber:

http://online.wsj.com/article/SB123256754437503297.html#articleTabs=article

 

[wdwmagic]

Here is the full article from the Sentinel.

http://www.orlandosentinel.com/news...isney-executive-layout-012109,0,3302228.story

 

[Enigma]

Thanks steve!

I also found it at marketwach: http://www.marketwatch.com/news/sto...x?guid={6866FE73-B54C-4969-93EC-85368210BF39}

 

[wdwmagic]

So according to the article, it's 313 managers (above Director level) at WDW.

 

[WDWFigment]

I can't say that I'm too saddened by this...

Hopefully the savings are passed along in the form of refurbishments/growth, but I can't say that I really expect that, either.

 

[jt04]

I can't say that I'm too saddened by this...

Hopefully the savings are passed along in the form of refurbishments/growth, but I can't say that I really expect that, either.

Me neither but there is always hope.

Now we know where the SM rehab money went, a management buyout. I'll bet there is already a line at the window for people who want to get their money.:ROFLOL:

 

[DougK]

I didn't know they had that many managers above the level of Director.

 

[marni1971]

Maybe they won`t need the exec parking in the west MK lot!

Seriously, it`s not good news for the people involved, but management must lead by example.

 

[Buried20KLeague]

Hmmm...


Where's the couple folks that have been on Disney's bandwagon, arguing that Disney knows what they're doing because they haven't laid anyone off??

 

[jt04]

Hmmm...


Where's the couple folks that have been on Disney's bandwagon, arguing that Disney knows what they're doing because they haven't laid anyone off??

Just speaking for myself, I specifically said "rank and file" folks have not been laid off to managements credit.

Nobody wants to see anyone lose their jobs but I am quite sure there are plenty of people who are relieved to get a buyout.

 

[Buried20KLeague]

Just speaking for myself, I specifically said "rank and file" folks have not been laid off to managements credit.

Nobody wants to see anyone lose their jobs but I am quite sure there are plenty of people who are relieved to get a buyout.

And why is that?

A buyout, followed by unemployment VS. continued employment

Why would they willingly choose the former? Especially when they're in management, MAKING the decisions?

Don't know if you've noticed, but the job market ain't too hot out there these days.

 

[CaptainMichael]

They are also cutting down on the amount of Professional Internships from what I understand.

 

[MousDad]

She also noted that "the parks and resorts division is in the process of implementing a number of initiatives to contain costs and maximize efficiency."

Oh boy.

 

[eddy21]

There goes my chance at V.P of the popcorn carts

 

[jt04]

And why is that?

A buyout, followed by unemployment VS. continued employment

Why would they willingly choose the former? Especially when they're in management, MAKING the decisions?

Don't know if you've noticed, but the job market ain't too hot out there these days.

Simply because a buyout is better than just being layed off.

 

[Vernonpush]

" The 600 executives, all above the level of director, have until Feb. 6 to decide if they want to take the offered buyout. At that point, the company may consider layoffs as well."
Take the buyout or get laid off? Tough choice.

 

[jt04]

I said "nobody wants to see anyone lose their job". I was wrong as evidently Enigma does. Lotta class Enigma, lotta class.

And could you please change your avie and give our new President the dignity he deserves?

 

[Buried20KLeague]

Simply because a buyout is better than just being layed off.

Ah. I didn't think you meant it in that way... I thought you meant it in a "most of them probably weren't happy" kind of way.

Which would have been in direct conflict with your views on Disney and the parks, at least in discussions during the past couple months.

I was ready to POUNCE on you like a caged tiger!!! :lol::lol:

I'll get you next time... Oh yes, I will... I'm watching you jt04... AAAAAALLLLways watching... :lookaroun

:lol:

Truthfully though... There's no telling what the buyout might be. Could be a couple weeks' pay and 6 months' health insurance extension or something. Might not be much better than just showing them the door.

 

[Buried20KLeague]

She also noted that "the parks and resorts division is in the process of implementing a number of initiatives to contain costs and maximize efficiency."

Oh boy.

Oh boy, indeed.

 

[Buried20KLeague]

" The 600 executives, all above the level of director, have until Feb. 6 to decide if they want to take the offered buyout. At that point, the company may consider layoffs as well."
Take the buyout or get laid off? Tough choice.

A large customer of mine did the same thing. Offered a voluntary separation package to those that wanted to take it, with layoffs to follow in order to get to their "magic number" they needed to layoff.

The people that got laid off got the same benefits as those that took voluntary... My guess is that's the case here, too. See how many WANT to jump ship for one reason or another, then the rest of the layoffs come from the general population of execs, at no choice of their own.

Smart move, because then you can feel pretty sure that those that survive the cuts are people that really want to be there.