Politics 28000 Layoffs coming to Disney's domestic theme parks - statement from Josh D'Amaro

[Rteetz]

they are cutting whole departments wow.

I mentioned earlier yellow shoes is gone.

 

[Sirwalterraleigh]

Iger I think is leaving at the end of 2021. He tried leaving a few times but the Disney Board convinced him to stay. If Josh doesn't get support from the board then he will be adios just like Rasulo and Staggs that were bypassed too.

Iger vacated his contract on 2/25/20 to “spend more time his stock price...errr...”family””

He’s a board chair and elaborate consultant of some ambiguity now

 

[Sirwalterraleigh]

From a friend of a friend, the entire department at Disneyland that does the in-park guest surveys was cut. I am going to guess WDW’s was as well.

Unfortunate...but I can see why. They can’t really glean anything from in park surveys now and for some time.

 

[Slpy3270]

Iger I think is leaving at the end of 2021. He tried leaving a few times but the Disney Board convinced him to stay. If Josh doesn't get support from the board then he will be adios just like Rasulo and Staggs that were bypassed too.

Chapek's expected to assume the mantle of Chairman AND CEO once Iger's gone. That's been the plan from the get go. Josh isn't getting near that position for years.

 

[asianway]

I mentioned earlier yellow shoes is gone.

Seeing a lot of DL entertainment

 

[Slpy3270]

Unfortunate...but I can see why. They can’t really glean anything from in park surveys now and for some time.

If you're laying off the entire department then that means in-park surveys aren't coming back forever.

 

[Giss Neric]

Forced retirement is definitely true as I know people who are still in their early 60s who retired earlier than expected.

 

[oceanbreeze77]

Seeing a lot of DL entertainment

yes lots of hosts.

 

[DCBaker]

"Walt Disney Co. chairman Bob Iger has quit Gov. Gavin Newsom’s economic recovery task force, a Disney spokesperson confirmed Thursday evening.

The spokesperson would not say why or precisely when Iger left the task force, but the news comes as the Newsom administration is preparing to release guidance on theme park reopening that the industry is criticizing."

https://www.sacbee.com/news/politics-government/capitol-alert/article246162370.html

 

[tallica]

From a friend of a friend, the entire department at Disneyland that does the in-park guest surveys was cut. I am going to guess WDW’s was as well.

Personally know someone who works in that department at WDW. It was all but shutdown yesterday. As of now a small unit only one leader and a few CMs will continue doing surveys at Springs. Since the shutdown only Springs has had on the ground surveys. Disney has been using the Park Reservation System to collect data from park quests.

 

[Sirwalterraleigh]

If you're laying off the entire department then that means in-park surveys aren't coming back forever.

I think it will at some point.

But at this current time, they’re only gonna get feedback of reductions and pricing...not what people are interested in paying MORE for...which is much of what it is geared to now.

 

[Tha Realest]

Where’s Bob Iger? Is he still on the governor’s coronavirus business task force? He’s been awfully silent in recent weeks.

Question answered.

https://www.google.com/amp/s/amp.sacbee.com/news/politics-government/capitol-alert/article246162370.html

 

[Slpy3270]

I think it will at some point.

But at this current time, they’re only gonna get feedback of reductions and pricing...not what people are interested in paying MORE for...which is much of what it is geared to now.

If the next few years are all about cost-cutting and pricing then that's going to increase pressure by investors to spin the parks off. They're not going to wait long-term.

 

[Sirwalterraleigh]

Forced retirement is definitely true as I know people who are still in their early 60s who retired earlier than expected.

But that’s a pressure situation...if it’s by contract it’s “mandatory”

 

[Slpy3270]

Question answered.

https://www.google.com/amp/s/amp.sacbee.com/news/politics-government/capitol-alert/article246162370.html

So he's basically going to destroy Disneyland because he hates it when guidance rooted in medical expertise clashes with profit?

 

[Sirwalterraleigh]

You are wrong on the profit side. Disney was only getting $300 million a year for their movie library. Disney+ is paying much more, currently will over $300 million a month. The fact that Disney+ loses money does not mean that the Walt Disney Company does not make more money from Disney+, even with the losses at Disney+, than they made from Netflix.

Disney+ is very successful...but it isn’t making a dent in what Disney is losing from its other segments...frankly.

It’s good they have it...for sure...but Disney is bleeding money like a dodge bleeds oil 15 minutes after you drive a new one off the lot.

 

[Slpy3270]

Disney+ is very successful...but it isn’t making a dent in what Disney is losing from its other segments...frankly.

It’s good they have it...for sure...but Disney is bleeding money like a dodge bleeds oil 15 minutes after you drive a new one off the lot.

In fairness, they're still nowhere near the amount of money AOL lost on Time Warner in 2002 ($99 billion to be exact).

 

[MisterPenguin]

Board members, whether for Disney or for a governor's task force generally do not make their own press announcements. A board member's job is to advise, not get out in front of the execs in charge. And if they do need to intervene, they do so with a majority vote of the board. Otherwise, they resign in protest while making a statement.

When Iger was CEO, how many times did one of the Disney board members release a press release about Disney business?

Well, that shoe dropped.

Waiting on the statement...

... which is probably waiting on what the governor eventually puts out. There's still a chance to negotiate until that is made public.

 

[Sirwalterraleigh]

In fairness, they're still nowhere near the amount of money AOL lost on Time Warner in 2002 ($99 billion to be exact).

I’m not saying Disney is in any real danger - to be clear...I just can’t go with any suggestion a startup streaming service for pennies a month that THEY pay to produce the content is some kind of backstop against the current headwind.

 

[tallica]

I think it will at some point.

But at this current time, they’re only gonna get feedback of reductions and pricing...not what people are interested in paying MORE for...which is much of what it is geared to now.

They have realized with the reservation system that if their is an e-mail linked to ticket there is no reason for in person surveys. They just send out online surveys after the ticket passes through the turnstiles. This can't be done at Springs hence they continue to do surveys in person.