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

[UNCgolf]

The rides and attractions are as entertaining as a Six Flags park.

No they aren't. There's a reason I go to Disney and don't go to the Six Flags 20 minutes from my house.

To be fair, they probably are for some people, but different people want different things. Six Flags don't have rides and attractions like the ones at Disney -- almost nowhere else does outside of Universal.

 

[Slpy3270]

Again... more total non-sense.

Know who made the company a publicly traded company? Roy Disney.

Eisner was the one who pushed forward to expand the company and jack the stock price up, with mixed results.

On one hand, he got ABC/ESPN and Fox Family for his troubles (it made sense back then; cable television was exploding the late 90s-early 00s, and now Media Networks is now their second-biggest profit generator). On the other hand, he pushed forward Disneyland Paris and Disney California Adventure, both of which were total dumpster fires upon opening and huge money losers. After the latter debacle it just got worse for him.

I agree that Eisner helped make Disney the juggernaut today but the events from 2001 onwards is just too touchy of a subject.

 

[Chomama]

No they aren't. There's a reason I go to Disney and don't go to the Six Flags 20 minutes from my house.

To be fair, they probably are for some people, but different people want different things. Six Flags don't have rides and attractions like the ones at Disney -- almost nowhere else does outside of Universal.

Agree. But I am going to say something that may sound cliche. But it is true. The Disney difference is the cast. People go to work there because they LOVE Disney. That entire culture just took a massive hit. If leadership can’t figure out how to fix morale and restore enthusiasm in the cast, the parks will never be the same.

 

[the.dreamfinder]

Those principles were abandoned once they decided to become a publicly-traded conglomerate at the whims of profit-obssesed Wall Street bankers

Thank Eisner for that.

You know Disney has been a publicly traded company since 1941, right?

 

[Brer Oswald]

Eisner was the one who pushed forward to expand the company and jack the stock price up, with mixed results.

On one hand, he got ABC/ESPN and Fox Family for his troubles (it made sense back then; cable television was exploding the late 90s-early 00s, and now Media Networks is now their second-biggest profit generator). On the other hand, he pushed forward Disneyland Paris and Disney California Adventure, both of which were total dumpster fires upon opening and huge money losers. After the latter debacle it just got worse for him.

The only one similar to Six Flags would be DCA 1.0. Paris, Animal Kingdom, And even MGM all had the “Disney Quality” to them, regardless of the returns. Any other definition would be revisionist history.

 

[Slpy3270]

The only one similar to Six Flags would be DCA 1.0. Paris, Animal Kingdom, And even MGM all had the “Disney Quality” to them, regardless of the returns. Any other definition would be revisionist history.

In fairness, I admire that Disney has a dedicated R&D division vs. Six Flags. After the layoffs though I fear more R&D outsourcing.

 

[Brer Oswald]

You know Disney has been a publicly traded company since 1941, right?

WED wasn’t when Disneyland opened. But that got bought out by the public WDC in 1965, which was before Pirates, Mansion, Epcot, And all of the other hallmark examples of the “Disney difference”. Benign publicly traded has nothing to do with the quality.

 

[TrainsOfDisney]

Agree. But I am going to say something that may sound cliche. But it is true. The Disney difference is the cast. People go to work there because they LOVE Disney. That entire culture just took a massive hit. If leadership can’t figure out how to fix morale and restore enthusiasm in the cast, the parks will never be the same.

Yes. This is huge. How many wal-mart employees talk about how they dreamed about working for wal-mart all their lives?

Disney management doesn’t know what they are destroying because they are not leaders. They only see numbers and they are determined to get their bonuses at the end of the year.

 

[Brer Oswald]

In fairness, I admire that Disney has a dedicated R&D division vs. Six Flags. After the layoffs though I fear more R&D outsourcing.

What difference does that make? Executives have control over what they make.

 

[Slpy3270]

People go to work there because they LOVE Disney.

Not if you've been reading The Daily Beast, Abigail Disney's tweets, and closely following the gender pay disparity lawsuit lately.

 

[Chomama]

Not if you've been reading The Daily Beast, Abigail Disney's tweets, and closely following the gender pay disparity lawsuit lately.

I mean I am speaking from
More of a boots on the ground perspective

 

[mikeanabean]

It is amazing the amount of corporate ceos that are on this site with so much ”insider“ information that is in the realm of BS. Disney is a business and they are a for profit company And layoffs happen. The Disney that I grew up with is no longer there and I have accepted that for awhile and maybe you should too. If you do not like they way they then it’s simple do not go. I am also amazed with all of this so called insider information people don’t get fired or sued.

 

[networkpro]

It is amazing the amount of corporate ceos that are on this site with so much ”insider“ information that is in the realm of BS. Disney is a business and they are a for profit company And layoffs happen. The Disney that I grew up with is no longer there and I have accepted that for awhile and maybe you should too. If you do not like they way they then it’s simple do not go. I am also amazed with all of this so called insider information people don’t get fired or sued.

Most businesses have non-disclosure agreements with their employees, furthermore if the "source" owns any stock the SEC gets really interested.

 

[Ldno]

Florida doesn't contact trace, so there will never be a "Disney outbreak". It's like how if we didn't test anyone there'd be "no covid positive cases".

That said, I agree with some of what you say... We certainly need to figure out how to open up some things safely. But until people are comfortable coming we won't recover. And I don't mean disney superfans. I heard on the news the other day "Florida goes to phase 3 with full capacity indoor dining. Guess where I won't be going". Until the state is perceived as safe and is off of the quarantine lists we will not recover.

I understand and respect your small government ideals, but during a pandemic the government does have a public health responsibility and needs to tell us what to do.

I don't understand the hate for the trackers. They pay for a lot of what they do and make interesting and informative videos. They're way better than most.

Well the big thing I heard, New York is randomnly alerting YOU for example or random users via phone if anyone around you has tested positive with Covid 19. Imagine you walk around the parks and get a random notification on your cellphone pinpointing “John” 3 feet away from you had Covid.

They are fighting the huge invasion of privacy of both sides but i get it, people are and this is why we are in pandemic in the first place, the people who got infected like to spread it to others... but still

You made a good point. Highly paid "consultants" could be hired to give brutal honest assessment on all things restructuring and efficiency.

The movie Office Space comes to mind. “So what you say you do here” LOL

 

[Stitch826]

Let me get this straight...Disney is spending millions, likely tens of millions of dollars refurbishing/remodeling the Polynesian. Yet they’re laying off tens of thousands of workers. Why not put the completely unnecessary Polynesian project on hold and use that money to continue paying the cost of benefits to the furloughed employees instead of laying them off completely? It’s not as if they were currently getting paid anyway. Continue to leave them furloughed until further notice, but at least keep paying for their insurance and what not.

 

[flynnibus]

Let me get this straight...Disney is spending millions, likely tens of millions of dollars refurbishing/remodeling the Polynesian. Yet they’re laying off tens of thousands of workers. Why not put the completely unnecessary Polynesian project on hold and use that money to continue paying the cost of benefits to the furloughed employees instead of laying them off completely? It’s not as if they were currently getting paid anyway. Continue to leave them furloughed until further notice, but at least keep paying for their insurance and what not.

One... Different colors of money for one thing.... capex vs operations.

Two... you dont know the long trm reasosn the poly work maybe needed. You call it “completely unnecessary”... ok enlighten us exactly what they are doing and why...

Three... they are still going to need the Polynesian going forward... you may not need that photopass cm or that cashier depending on your plan.

Four - why keep employees you probably dont need? If you need them 3 years from now... you hire new ones.

 

[Sirwalterraleigh]

Let me get this straight...Disney is spending millions, likely tens of millions of dollars refurbishing/remodeling the Polynesian. Yet they’re laying off tens of thousands of workers. Why not put the completely unnecessary Polynesian project on hold and use that money to continue paying the cost of benefits to the furloughed employees instead of laying them off completely? It’s not as if they were currently getting paid anyway. Continue to leave them furloughed until further notice, but at least keep paying for their insurance and what not.

They Always “refurb” when they can’t sell rooms. It’s advantageous in many ways. What isn’t guaranteed is if they are putting much money into it. I’ve seen “refurbs” where barley anything is touched.

 

[Sirwalterraleigh]

Disney stock has been publicly traded since 1957 when it had its initial public offering where Disney stock was sold at $13.88 per share. Previously the Walt Disney Co. issued its first stock through 6% cumulative preferred shares in 1940 where it was traded OTC (Over The Counter). Source - markets.businessinsider.com/stocks/dis-stock

I don't think Eisner had anything to do with it. If it were not for Eisner the company would have faced a hostile take over.

The size and scope of Disney changed substantially under the last two management teams...they didn’t change much...might have actually shrunk a bit...from 1955 to 1985

 

[DCBaker]

Carpenters Local 1820 (FL) during a live video mentioned 149 will be laid off from their group on November 1st (though the specific number may change). They also mentioned 300+ left on furlough will be back hopefully before May 2021.

 

[Lilofan]

Carpenters Local 1820 (FL) during a live video mentioned 149 will be laid off from their group on November 1st (though the specific number may change). They also mentioned 300+ left on furlough will be back hopefully before May 2021.

Other unions representing Engineering also advised some cast to be laid off starting November 1.