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Disney asks workers to cut hours to save money
- Thread starter JAY-ROD
- Start date
Originally posted by Maria
i wonder if Disney reduced the rent of The Commons, Chatham Square and Vista Way too...It´s hard to live on 32 hours a week only...
Yeah I'm sure it is! But i'm sure Disney didnt lower it for them! There trying to save all the money they can wheather it hurts there employes or not!
Maria
New Member
It doesn´t sound very fair indeed that they cut the hours and still get the same money on rent that they know comes only from those hours! I know 32 hours is better than nothing, but it´s seriously the minimum you need to pay rent and survive. I thought that was too little, and didn´t have to pay gas, phone, or bills, like many of my friends had. And don´t misunderstand me please! I didn´t go for the money AT ALL!
I understad it is a businness and it is a hard time, but come on... everybody should do a little more on their side...
I understad it is a businness and it is a hard time, but come on... everybody should do a little more on their side...
Chris
New Member
I can understand the feelings of the employees that are effected. I also understand tha 32 hours a week is better than zero hours a week. It seems that Disney is doing what it can to maintain as much employement as it can. Disney is not the villan here. As much as we would all like to think that they are, myself included, I really believe they are trying to stay afloat. Disney is just as effected as the airline industry that has laid off tens of thousands of workers. Cuts have ot be made somewhere. I for one would like to see WDW around in five years or ten years. The basic facts of business are that if you spend more than you make for very long, you will go under. Disney must take actions to keep it's stock price up or we may see even more drastic changes. I keep telling myseld that Disney is a public company and has a responsibility to its shareholders. It is not my private playground. I only hope that people start going again so these things can turn around.
disneyfan1313
Member
Most CM's are above 32 hours a week again anyways.
Coronado
Member
It is called "indentured servitude" or as Tennessee Ernie Ford said "I owe my soul to the company store."... Why don't they ask Tiger Woods for a couple of million back from his endorsement contaract? The Laughing Place is gone! I have always wondered what one of those parks would look like if it were abandoned and left to rot.....
disneyfan1313
Member
Uh.. Here is the lowdown.
Salaried CM's have an option of working 4 days a week for a period of 90 days and taking a 20% pay cut for those 90 days. This is being geared twords folks who might want to take time off to be with their families ect.
Salaried CM's have an option of working 4 days a week for a period of 90 days and taking a 20% pay cut for those 90 days. This is being geared twords folks who might want to take time off to be with their families ect.
Tink
New Member
Personally, I would be happy if my employer gave me the option to reduce my hours rather than cut my hours completely and lay me off. Think about it - if you work M-T and then take Friday and the next Monday off - you are working 4 days and taking 4 days off. I could live with that (but I don't have any dependents or debt...).
Of course, the key here is that it is voluntary, at least for now...
Of course, the key here is that it is voluntary, at least for now...
Monorail Lime
Well-Known Member
Originally posted by Maria
i wonder if Disney reduced the rent of The Commons, Chatham Square and Vista Way too...
CPs are paid significantly less than regular CMs. The whole purpose of the College Program is to provide cheap labor during the busy seasons, right?
I wouldn't be suprised if their hours are not affected by this. In some areas, they might even get more hours to make up for the reduction in CM workforce!
Maria
New Member
Originally posted by Monorail Lime
CPs are paid significantly less than regular CMs. The whole purpose of the College Program is to provide cheap labor during the busy seasons, right?
I wouldn't be suprised if their hours are not affected by this. In some areas, they might even get more hours to make up for the reduction in CM workforce!
You´ve got a good point there... hope it is true. However, when I worked there we got hours reduced due to low attendance, so I wouldn´t count too much on getting paid more...
disneyfan1313
Member
Uhh.. Actaully the few Salaried people I know are doing it for lifestyle reasons. They want the benefits of having a full time job but they want to be part-time for a while and get paid less as well. Usually for children or a sick parent. Ect. It is actually turning out to be a huge benefit for some folks.
BTW: Did anyone else notice when they were talking about WDW on the Daily Show last night they showed all Disneyland footage? I hate that.
BTW: Did anyone else notice when they were talking about WDW on the Daily Show last night they showed all Disneyland footage? I hate that.
McArcDes
New Member
I know one way to help the company...
Does anyone know how much of Eisners 500 Million a year salary he is giving back to the company during this time of cost cutting and closures??? Just imagine what one year of his salary could do to keep things open and maintiained. Its not like he needs the money. I personally know cast members though that are supporting familys and are worried about their jobs.
Sadly I feel that the company is on a downward slide and I hope that it stops before much more damage is done. Dont get me wrong. I am still and forever will be a Disney loyalist but being in the design profession and knowing what should be done and how it should be done seeing all this just strikes me to the core.
There are answers to the problems the Walt Disney Company is having right now and for some reason they are not being found.
Did the company really need to but Fox Kids and assume another 2 billion dollars in debt on top of the 3 billion that they paid for it?
Managment is the key here, but where is it?
Thanks for letting me rail for a moment. I hope I did not get too far off subject.
McArcDes
Does anyone know how much of Eisners 500 Million a year salary he is giving back to the company during this time of cost cutting and closures??? Just imagine what one year of his salary could do to keep things open and maintiained. Its not like he needs the money. I personally know cast members though that are supporting familys and are worried about their jobs.
Sadly I feel that the company is on a downward slide and I hope that it stops before much more damage is done. Dont get me wrong. I am still and forever will be a Disney loyalist but being in the design profession and knowing what should be done and how it should be done seeing all this just strikes me to the core.
There are answers to the problems the Walt Disney Company is having right now and for some reason they are not being found.
Did the company really need to but Fox Kids and assume another 2 billion dollars in debt on top of the 3 billion that they paid for it?
Managment is the key here, but where is it?
Thanks for letting me rail for a moment. I hope I did not get too far off subject.
McArcDes
Chris
New Member
Re: I know one way to help the company...
McArcDes,
Corporate Execs get paid tow ways: responsibility and results. Eisner does NOT make $500 Million! Eisners Bonuses earns a good salary but you would expect a CEO to make a good one. His bonuses will be tied to company performance. Also keep in mind that a great deal of his compensation is in stock options. Many of all of the Disney Exec's options are now worthless. A great deal of their personnal wealth is tied up in these options and it is in their best interest to make the company succeed so that they can regain thir assets.
As to the purchase of the TV network, it was Fox Family not Fox Kids. Two different entities. I am not a media expert but Disney oviously saw something they liked in the network.
While I do not agree with all of the moves by the Disney execs, I do think that over the past several years Disney has become a much more diversified company and under Eisner they have opened two new theme parks in the USA alone. While attractions have been closed, there have always been new onees to take their place.
I for one believe that WDW is a much better place now than it was 10 years ago. There is more to do and see.
McArcDes,
Corporate Execs get paid tow ways: responsibility and results. Eisner does NOT make $500 Million! Eisners Bonuses earns a good salary but you would expect a CEO to make a good one. His bonuses will be tied to company performance. Also keep in mind that a great deal of his compensation is in stock options. Many of all of the Disney Exec's options are now worthless. A great deal of their personnal wealth is tied up in these options and it is in their best interest to make the company succeed so that they can regain thir assets.
As to the purchase of the TV network, it was Fox Family not Fox Kids. Two different entities. I am not a media expert but Disney oviously saw something they liked in the network.
While I do not agree with all of the moves by the Disney execs, I do think that over the past several years Disney has become a much more diversified company and under Eisner they have opened two new theme parks in the USA alone. While attractions have been closed, there have always been new onees to take their place.
I for one believe that WDW is a much better place now than it was 10 years ago. There is more to do and see.
McArcDes
New Member
Chris,
You are right. The ways the top execs at Disney get their compensation is Cash, bonuses and stock options. And yes they are tied to preformance of the company.
Where I diagree is that they should by rights get big salaries. What makes them so special that they should garner huge multi million dollar salaries? Japanese companies limit their CEOs salaries to seven times the lowest worker s wages. And as the leader of a company the CEO should be the first one to give up salary as an example to those that work for him. Leadership by example.
The whole point of my post was that Eisners a query to find out if Eisner was doing this (I have not heard he is) and to make the point that putting back a years worth of even his cash salary would go a long way to helping out in hard times. He does not need the money and could survive a year with out it. This would not only help the company money wise but also show the thousands of emplyees facing layoffs and cut backs that he was one of them not above them.
As for the purchase of Fox Family (my mistake that it was Fox Kids) I can see that this would be another outlet for the disney movie and television product. But what I question is that they paid three billion dollars for it and took on another 2 billion in debt. Is this really the right time to do this? Where is all the money to pay for these things going to come from?
In the last 10 years I have seen many new things happening like Animal KIngdom, California Adventure and a plethroa of new rides and attractions. I have also seen the quality of service and maintainance at the parks go down and the in your face attempts to get you to buy things go up.
Going to a Disney park for a vacation is not a cheap event. My wife and myself went last June for a three day weekend and it cost three thousand dollars. My wife and I are taking our four kids next week for a two week stay and that is costing us in the range of ten thousand. We are not even staying at one of the deluxe resorts. Thats not cheap and being so how many people does that exclude from going at all?
Walt Disney started this company to create the finest in family entertainment not to make lots of money. I just think that Walt's values have been turned around and the money comes first.
And to get back to my question about who is going to pay for all these things. You, me and all the other Disney fans will pay for a lot of it in higher Video, merchandise, park ticket prices, hotel rates, check prices at Disney restaurants and the like.
McARcDes
You are right. The ways the top execs at Disney get their compensation is Cash, bonuses and stock options. And yes they are tied to preformance of the company.
Where I diagree is that they should by rights get big salaries. What makes them so special that they should garner huge multi million dollar salaries? Japanese companies limit their CEOs salaries to seven times the lowest worker s wages. And as the leader of a company the CEO should be the first one to give up salary as an example to those that work for him. Leadership by example.
The whole point of my post was that Eisners a query to find out if Eisner was doing this (I have not heard he is) and to make the point that putting back a years worth of even his cash salary would go a long way to helping out in hard times. He does not need the money and could survive a year with out it. This would not only help the company money wise but also show the thousands of emplyees facing layoffs and cut backs that he was one of them not above them.
As for the purchase of Fox Family (my mistake that it was Fox Kids) I can see that this would be another outlet for the disney movie and television product. But what I question is that they paid three billion dollars for it and took on another 2 billion in debt. Is this really the right time to do this? Where is all the money to pay for these things going to come from?
In the last 10 years I have seen many new things happening like Animal KIngdom, California Adventure and a plethroa of new rides and attractions. I have also seen the quality of service and maintainance at the parks go down and the in your face attempts to get you to buy things go up.
Going to a Disney park for a vacation is not a cheap event. My wife and myself went last June for a three day weekend and it cost three thousand dollars. My wife and I are taking our four kids next week for a two week stay and that is costing us in the range of ten thousand. We are not even staying at one of the deluxe resorts. Thats not cheap and being so how many people does that exclude from going at all?
Walt Disney started this company to create the finest in family entertainment not to make lots of money. I just think that Walt's values have been turned around and the money comes first.
And to get back to my question about who is going to pay for all these things. You, me and all the other Disney fans will pay for a lot of it in higher Video, merchandise, park ticket prices, hotel rates, check prices at Disney restaurants and the like.
McARcDes
Chris
New Member
McARcDes,
Thanks for the clarification. The only point that I dasagree on is that exec's should be paid what ever the company is willing to pay them. Limiting the amount that and exec can make cuts the talent pook. Japan or Thiland or anyone else may do it different, but in the good old USofA you can make whatever the market will bear. I would never voluntarily return a portion of my salary to my corporation if I failed to make my personal objectives and quotas and I do not feel tht Eisner or any other exec of any other corp shoud consider doing so. The precident it sets is frightening. If it is okay for the exec's then it is okay for the general workers then it might just become involuntary. Salary is Salary.
We are going for 17 days in mid November and I understand your cash outlay. An the answer is YES, you and I and all other consumers share the burden of the costs. We alos share the burden of the costs when you buy a new Ford or a tube of toothpaste. That's just the way it is. If Disney thought they could get someone better for less money, the BoD would fire Eisner and replace him with someone who would work cheaper. I've always been a proponent of "You get what you pay for."