Disney plans hiring freeze, some jobs cut......

[JoeCamel]

Universal already hired up for Epic Universe, then they fired almost everyone and have hired up again. The thing about project-based worked is that people end up moving around.

Finite supply, if they have most working on fleshing out the park while the budget spigot is open they won't be available to design new cupcake signs

 

[Tha Realest]

The point remains. Disney had a gap in their content factory. They had news, sports, unscripted (reality), kids, and family. They didn't have adult scripted series or documentary. FX and NatGeo provide those categories. They needed to fill those gaps regardless of whether they plan to keep Hulu long term or if they plan to integrate it all into the Disney+ app like they do internationally.

They've done programming since the before the widespread advent of color television. If they haven’t figured it out by now…

 

[wutisgood]

Pretty terrible time to try to move to Florida to save on cost. Isn't Orlando now one of the worst places to live in the country compared to wages. Hasn't it seen one of the largest spikes I housing costs? 7% mortgages don't sound so good for moving if you are in a more comfortable financial situation and have other employment opportunities in a higher wage market. Orlando does not have the talent pool of California for the high end type of work.

 

[JoeCamel]

Pretty terrible time to try to move to Florida to save on cost. Isn't Orlando now one of the worst places to live in the country compared to wages. Hasn't it seen one of the largest spikes I housing costs? 7% mortgages don't sound so good for moving if you are in a more comfortable financial situation and have other employment opportunities in a higher wage market. Orlando does not have the talent pool of California for the high end type of work.

Its still the difference between a million dollar 1200 sq. ft. bungalow and a 3000 sq ft waterview. Or you get the bungalow for $250K if that's your style. Long run over a career you have more cash in the end in Florida on the housing front and climate aside you get miles more house for your buck even now in Florida than you do in urban California

 

[Sirwalterraleigh]

People always seem to default “they know what there doing” when in fact companies will publicly say they are doing ok or a more intricate line at the same time shredders are working over time in the back. All companies even the best lie….they project strength and prowess to the very end. How do you think employees legitimately show up to doors being closed etc. it is a sudden and dramatic event.

For some reason…Disney fans have convinced themselves the SEC regulates/punishes corporate lying like a kindergarten teacher…

 

[Sirwalterraleigh]

Pretty terrible time to try to move to Florida to save on cost. Isn't Orlando now one of the worst places to live in the country compared to wages. Hasn't it seen one of the largest spikes I housing costs? 7% mortgages don't sound so good for moving if you are in a more comfortable financial situation and have other employment opportunities in a higher wage market. Orlando does not have the talent pool of California for the high end type of work.

Since ponce de Leon

 

[Sirwalterraleigh]

Yep. No going back this time.

Back to what?

The lack of understanding of Disney/travel/business history in each post is astounding…

We gotta have IT adjust your algorithm/logic processor

 

[monothingie]

Back to what?

The lack of understanding of Disney/travel/business history in each post is astounding…

We gotta have IT adjust your algorithm/logic processor

 

[JMcMahonEsq]

Pretty terrible time to try to move to Florida to save on cost. Isn't Orlando now one of the worst places to live in the country compared to wages. Hasn't it seen one of the largest spikes I housing costs? 7% mortgages don't sound so good for moving if you are in a more comfortable financial situation and have other employment opportunities in a higher wage market. Orlando does not have the talent pool of California for the high end type of work.

From a financial standpoint, it is never a bad time to move from California to Florida. Although true if you are locked into a home with a great mortgage rate in CA you are not getting a better rate now. However all things being equal home prices in metro areas of CA are far above Orlando, so you are going to be able to either 1) get much more home for the same costs, or 2) downsize in cost for the same size home you had in CA.

In addition you are going to recognize certain tax/cost of living savings which over the course of a career are going to be substantial. You have a 9.3% CA tax rate for anyone in the 61K-312K range as compared to no Florida state taxes.

You have a general sales tax in Florida of around 6% (and with local taxes added in, a state average of around 7%) versus anywhere from 9.5% in Hollywood and LA to 10.25 on other areas.

 

[Sirwalterraleigh]

Breakfast with the stupids on deck…

 

[castlecake2.0]

Posted yesterday, better not let Bobby see

 

[CaptainAmerica]

View attachment 678687
Posted yesterday, better not let Bobby see

Don't encourage the maniacs.

 

[el_super]

Back to what?

No going back to cheap admissions... APs flooding the parks. Not going to happen.

You need to pay more attention to what's going on now, quite literally today, rather than living in the past.

 

[el_super]

As far as I can tell, the intent is the same as it always was. Move to Florida to save money. The delay was just a stunt to appease some employees having a temper tantrum.

Part of the calculus of this move though, from what I was hearing, was making space in Glendale/Hollywood for more Disney+ production. If Disney+ production is going to start slowing down, and all that office/warehouse space is going to go empty, there's no point in moving the team to Florida and spending a billion dollars on a new campus.

Since the bulk of potential layoffs in the park space would be focused on R&D and new product development, WDI would be the group taking the biggest hit. Since whoever is left in California has probably already been deemed mission critical, it seems to me the most likely to be laid off are the ones that just moved to Florida.

 

[Sirwalterraleigh]

No going back to cheap admissions... APs flooding the parks. Not going to happen.

You need to pay more attention to what's going on now, quite literally today, rather than living in the past.

Disney admission was never “cheap”…and they will offer incentives if there is any measurable attendance or revenue decline.

Right
Now
!

 

[el_super]

Disney admission was never “cheap”…and they will offer incentives if there is any measurable attendance or revenue decline.

Yes, but as was said yesterday, and apparently is needed again: Disney is saying they will not offer as much of a discount this time around. They don't want the same situation that occurred after 2008 to occur again. They don't want to undervalue their product.

 

[CaptainAmerica]

Part of the calculus of this move though, from what I was hearing, was making space in Glendale/Hollywood for more Disney+ production. If Disney+ production is going to start slowing down, and all that office/warehouse space is going to go empty, there's no point in moving the team to Florida and spending a billion dollars on a new campus.

Whatever they're paying to build Lake Nona, they'd be able to sell property in LA for a lot more.

See also:

New Facilities Insider | Disney’s Digital Center 3 Centralizes Hardware, Allows Control From Anywhere - TV News Check

A first look at Disney’s new Digital Center 3 (DC3) in The Woodlands, Texas, a massive, 187,000-square-foot plant consolidating playout, transmission and media operations. (Sam Exley photo)

tvnewscheck.com

 

[el_super]

Whatever they're paying to build Lake Nona, they'll be able to sell property in LA for a lot more.

Maybe.... but they made no indication they wanted to sell it (and honestly... I don't see them selling off 1401 for anything).

I think the bigger problem they had with Lake Nona was wondering why they were spending a billion dollars on a new campus for a group that was getting more and more comfortable working from home. It seems like an extravagance to build a space for a group of people that were only in the office three days a week (if that).

They weren't prepared yet to announce it, but I do think the Lake Nona project will be cancelled eventually.

 

[CaptainAmerica]

It seems like an extravagance to build a space for a group of people that were only in the office three days a week (if that).

The pendulum has swung. "Hybrid" is a bandaid. People will be recalled to the office. The only people with the stones to say so right now are so-called villains like Elon Musk and Jamie Dimon, but the bosses are ready to reassert their authority and get people back to work. They had to accommodate workers' demands when we were in an extremely tight labor market, but now that the layoffs have started, companies can start getting picky and telling people who insist on working from home to pound sand.

 

[JoeCamel]

Whatever they're paying to build Lake Nona, they'd be able to sell property in LA for a lot more.

See also:

New Facilities Insider | Disney’s Digital Center 3 Centralizes Hardware, Allows Control From Anywhere - TV News Check

A first look at Disney’s new Digital Center 3 (DC3) in The Woodlands, Texas, a massive, 187,000-square-foot plant consolidating playout, transmission and media operations. (Sam Exley photo)

tvnewscheck.com

Pretty much confirms the new gate will be in Texas........