On layoffs, very bad attendance, and Iger's legacy being one of disgrace

[MisterPenguin]

Huge WDI and Creative layoffs happened this week.

No talk of layoffs today.

Disney's furlough action taken earlier in the year was cited as a cost savings maneuver that saved their quarter. Per conference call "most cast members furloughed" will return eventually.

Yeah. That same company that totally killed spending on the theme parks. Totally hiring everyone back.

Still, I guess I am happy to say that this time the scary thread title above hasn't played out yet?

So, did layoffs happen this week or not?

Two insiders with mutually exclusive info.

Someone set up the Thunder Dome!

 

[Brer Oswald]

So, did layoffs happen this week or not?

Two insiders with mutually exclusive info.

Someone set up the Thunder Dome!

No layoffs.
Disney is fine.
Most of the Epcot refurbs are happening.
Disney will not sell the Chinese Parks.
The Splash Mountain refurb is happening.

Deniers, it’s time to cope.

 

[BaconPancakes]

Hey, where’s the new thread you were previewing last night??

Right? Seems we got our hopes up for nothing. Guess I’m used to it being a Disney fan and all...

 

[EricsBiscuit]

Shanghai is losing money on its operations too.

That goes directly against what they said.

 

[pheneix]

So, did layoffs happen this week or not?

Two insiders with mutually exclusive info.

Someone set up the Thunder Dome!

Multiple things happening at once.

Disney didn't brag to Wall St that its gonna eliminate 10% of its workforce in a giant reduction. They also are also laying off seemingly anyone involved with new projects at the parks as they are not happening. Indeed, Disney's grip on spending is so tight they aren't even paying contractors by and large.

Universal Creative is basically a skeleton crew operation until the world improves. Some of the gossip alleges that 70% of UC got laid off.

Next year, you're gonna see thousands less Orlando resident CMs in Orlando. They will lose their jobs. They will be gone. Tourism is not coming back -- not like people are wishing it will. Disney did everything they could not to extend guidance to how the parks could perform in the future. For good reason.

 

[MAGICFLOP]

Disney will not sell the Chinese Parks.

CCP won't need to buy them..

 

[bryanfze55]

Multiple things happening at once.

Disney didn't brag to Wall St that its gonna eliminate 10% of its workforce in a giant reduction. They also are also laying off seemingly anyone involved with new projects at the parks as they are not happening. Indeed, Disney's grip on spending is so tight they aren't even paying contractors by and large.

Universal Creative is basically a skeleton crew operation until the world improves. Some of the gossip alleges that 70% of UC got laid off.

Next year, you're gonna see thousands less Orlando resident CMs in Orlando. They will lose their jobs. They will be gone. Tourism is not coming back -- not like people are wishing it will. Disney did everything they could not to extend guidance to how the parks could perform in the future. For good reason.

It’ll be back eventually.

 

[flynnibus]

Last year in Sweden, I compared paystubs with a colleague there.

His take home - as a percent of his salary - was within a few dollars of mine.

Meanwhile he doesn't have to worry about health copays, deductibles, etc.

But you don't have 25% vat on most items... and massive taxes on food/achohol and all kinds of social 'steering' taxing.

Those societies don't have obcene income taxes on the middle of the pack.. it's on the high earners. They basically try to lift everyone to a good median level... and get more extreme the further you get away from the sweet spot. They aim for high quality of life, and excess is taxed excessively.

 

[mkt]

But you don't have 25% vat on most items... and massive taxes on food/achohol and all kinds of social 'steering' taxing.

Those societies don't have obcene income taxes on the middle of the pack.. it's on the high earners. They basically try to lift everyone to a good median level... and get more extreme the further you get away from the sweet spot. They aim for high quality of life, and excess is taxed excessively.

Honestly, I didn't find prices for food and alcohol to be too far away from what I already pay in an expensive city. I actually found some hard liquor bargains at Systembolaget.

 

[BurnyMcBurnerface]

Next year, you're gonna see thousands less Orlando resident CMs in Orlando. They will lose their jobs. They will be gone.

Thank you for explaining that it takes a lot fewer workers to service a lot fewer visitors. Truly groundbreaking stuff there.

 

[BaconPancakes]

Lots of “New Members” popping up all of the sudden....

 

[mikejs78]

Here's the thing about Disney's parks in China: They're in trouble. It is political trouble and it is financial trouble every time the CCP gets involved.

I'm not shocked nothing was said about the parks today (Shanghai is open notwithstanding), but there will not be silence on this issue for much longer. Disney is in a *very* weak state and the people they ****ed off across the ocean are taking advantage of it. To say nothing of the drama the Trump government can make.

There are billions of Disney's dollars at risk in these assets. Real dollars. Not asset credits or write-downs for the earnings statement.

Repeating the same incorrect fact over and over again doesn't make it true, just because you want it to be so. They mentioned Shanghai several times and its contributions to income - not just that "they're open". They did not mention Paris or Tokyo.. So by your logic, those parks are in trouble and Shanghai is doing just fine.

 

[brb1006]

Here's the thing about Disney's parks in China: They're in trouble. It is political trouble and it is financial trouble every time the CCP gets involved.

I'm not shocked nothing was said about the parks today (Shanghai is open notwithstanding), but there will not be silence on this issue for much longer. Disney is in a *very* weak state and the people they ****ed off across the ocean are taking advantage of it. To say nothing of the drama the Trump government can make.

There are billions of Disney's dollars at risk in these assets. Real dollars. Not asset credits or write-downs for the earnings statement.

Me waiting for the new thread

You're just teasing us with the new thread aren't you?

 

[Brer Oswald]

Me waiting for the new thread

You're just teasing us with the new thread aren't you?

We’re not going to get it because people keep “calling him out” because Disney didn’t reveal much in the way of bad news.

 

[brb1006]

Multiple things happening at once.

Disney didn't brag to Wall St that its gonna eliminate 10% of its workforce in a giant reduction. They also are also laying off seemingly anyone involved with new projects at the parks as they are not happening. Indeed, Disney's grip on spending is so tight they aren't even paying contractors by and large.

Universal Creative is basically a skeleton crew operation until the world improves. Some of the gossip alleges that 70% of UC got laid off.

Next year, you're gonna see thousands less Orlando resident CMs in Orlando. They will lose their jobs. They will be gone. Tourism is not coming back -- not like people are wishing it will. Disney did everything they could not to extend guidance to how the parks could perform in the future. For good reason.

If that's true, then Happy 50th Birthday Walt Disney World

 

[mikejs78]

We’re not going to get it because people keep “calling him out” because Disney didn’t reveal much in the way of bad news.

If massive layoffs had happened, there's no way we wouldn't have heard about it. Despite the doom and gloom, Disney beat expectations, has a huge amount of cash on hand, and managed a small profit. Shanghai is doing better than WDW. It makes sense to question @pheneix at this point - nothing he's said has panned out.

 

[Brer Oswald]

If massive layoffs had happened, there's no way we wouldn't have heard about it. Despite the doom and gloom, Disney beat expectations, has a huge amount of cash on hand, and managed a small profit. Shanghai is doing better than WDW. It makes sense to question @pheneix at this point - nothing he's said has panned out.

To be fair, he did say that they didn’t happen yet before the conference. If I were running TWDC, I probably would wait on the lay offs until after the earnings call.

 

[mikejs78]

To be fair, he did say that they didn’t happen yet before the conference. If I were running TWDC, I probably would wait on the lay offs until after the earnings call.

Why would he? Wall Street likes layoffs. He also said they were happening last week....

 

[MisterPenguin]

If massive layoffs had happened, there's no way we wouldn't have heard about it. Despite the doom and gloom, Disney beat expectations, has a huge amount of cash on hand, and managed a small profit. Shanghai is doing better than WDW. It makes sense to question @pheneix at this point - nothing he's said has panned out.

Well... Iger *could* be sitting the dark stewing in shame!

 

[Brer Oswald]

Why would he? Wall Street likes layoffs. He also said they were happening last week....

Really?