This is sad. All because of a virus that is out of our control... Just take a step back and think about it. Never would have thought this was possible 10 months ago
We will see more layoff's it's just the start.
Air Travel is not going to recover enough for folks to travel easily as they did in the past. We are a leisure market yields are too low to increase the number of seats in the Central Florida market.
-Conventions are not returning anytime soon.
-Travelers from overseas cannot travel nor do that want to at this time. You can expect a ban to the US to last until Spring/Summer 2021.
-Travelers from Canada and Mexico cannot travel to the US.
Add the uncertainty of the economy and peoples jobs these are expenses most can do with out to ensure they can pay bills.
Experts are now saying we may be living with Covid for the next 2-3 years and we will need to adapt to the current way of life for many more years.
What does this mean for Disney nothing but bad news and I expect we will see the bare bones number of CM’s per day at the parks and resorts. Disney will need to turn into survival mode in the next 12 months if attendance continues at this pace.
The Spanish Flu pandemic that swept through 100 years ago kept people home and wearing masks for over 2 years. Hopefully we can beat that number, but this thing still has not revealed all its secrets. There is no magic shot to make this go away and there won't be a safe one until mid 2021 if they are tested properly.
I expect the layoffs to cause continuation of the cuts we've already seen in the parks: no parades, reduced food locations (odd that they're reopening some, but I think that's in response to demand) and some retail locations will be closed. 28,000 is a huge number, but we do what we must to secure our residence, and in this case it's the Disney brand and shell. The worst case would be shuttering entire parks, most likely starting with Animal Kingdom, potentially moving the most expensive animals to maintain elsewhere. That is a scary thought and I don't want to see them get that bad as it's my favorite park.
This move, while painful is the best option at the moment.
Well, add to that, the top execs
could go a year on minimum wage without a bonus.