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

[Grumpy4196]

During Covid 2020 Exec salaries were cut anywhere from 20% to 100% when thousands of cast were furloughed, a number were laid off for good.

Yes, but Chapek's new contract includes an annual "incentive award" of at least $20 million on top of his base $2.5 million salary

 

[JoeCamel]

I don't get it. The parks have been packed. Where's that money going?

D+, DCL

 

[castlecake2.0]

If some think parks and resorts are not impacted by layoffs , think again .

As of this morning they’re still hiring for 60 different front line roles at WDW. Like you said, potentially middle management or up might see something, but most locations are still severely short.

 

[Animaniac93-98]

It’s awful. I love those old films. Every single classic Hollywood studio film could be streaming right now at little to no cost to the companies that own them. The fundamental logic of streaming - that you flood the zone with content - dictates that they should be, even if the only viewers are a relatively small number of nerds like me. But they aren’t there. And with the death of physical media that streaming has brought about, that means those classics are becoming completely unattainable, disappearing into the void. Streaming, a development that should have made every film still extant instantaneously accessible, instead threatens to make 90% of Hollywood’s historic output disappear forever for no other reason then because executives and investors have no clear idea of what a streaming future looks like but are wildly arrogant, short-sighted, and trapped in an echo chamber that justifies and amplifies their worst impulses.

It's becoming increasingly difficult to find places to watch pre-2000 back catalog titles because of this streaming nonsense, made worse if you live outside the USA. I still have my physical media collection, but that's no excuse not to have these older titles out there.

 

[castlecake2.0]

Maybe he needs to reevaluate doubling down on that guest reservation system that he says is so impactful on the guest experience. Can you find me one guest that loves it? What impact are we talking about here. Are we talking about how much the guest loves it or how much you love it from managing your labor? Let's be honest? And how well is that working for you. Considering that right now from an attendance standpoint, the parks down the street are beating every single Disney park except for the Magic Kingdom and even that is almost half the attendance it used to have.

This is the second round of layoffs you've done in almost as many years and just a couple of months ago wasn't it Bob who was saying he doesn't understand why people think all he does is cut costs?

Board of directors, reach out to Tom Staggs. Tell him you were wrong and bring him back.

Nobody likes it, but they need it. And it’s not to cut labor, there’s no labor to cut.

 

[WDWFanRay]

Don’t worry, there’s room to cut meal portion sizes. Remember that CFO McCarthy says we’re too fat and she can help us out.

 

[GimpYancIent]

During Covid 2020 Exec salaries were cut anywhere from 20% to 100% when thousands of cast were furloughed, a number were laid off for good.

It would have been better for the health of the company to not cut salaries but show the dead wood executives the door, say 20% of the executive population of the company would have been just about right.

 

[Lilofan]

As of this morning they’re still hiring for 60 different front line roles at WDW. Like you said, potentially middle management or up might see something, but most locations are still severely short.

In a company I worked for in the Northeast, various HR, project mgt, temporary assignment roles, training, front line operations , non customer facing roles , secretaries were all affected in layoffs. There is no question Disney is short staffed but when the boss says to cut , there is little to no negotiation.

 

[GimpYancIent]

I have heard this before. The Do more with less and the catch word (streamlining) yet achieve the goal of a bigger profit margin. I believe B.C. sees himself as the Disney version of Gordon Gekko.

 

[dig311dug]

There’s a reason I own 5,000+ Blu-rays/4k discs and subscribe to 0 streaming services… but I’m in the .1% minority I suppose.

 

[Todd H]

There’s a reason I own 5,000+ Blu-rays/4k discs and subscribe to 0 streaming services… but I’m in the .1% minority I suppose.

You're not alone. I buy nothing but physical media, rip to my NAS, and playback throughout the house from the NAS. So I guess we would be in the .2% minority.

 

[Todd H]

 

[Jrb1979]

There’s a reason I own 5,000+ Blu-rays/4k discs and subscribe to 0 streaming services… but I’m in the .1% minority I suppose.

You're not alone. The only streaming I pay for is for sports. I don't get the whole streaming thing. When you think about it, if you have more then 3 you're almost back at what you were paying for cable without the benefit of live TV.

 

[Sirwalterraleigh]

Don't be surprised if some of your operational managers and support staff are no longer there.I've survived layoffs in companies I've worked. Every division gets impacted in the restructuring.

This is the pre-recession move…

In six months if bookings are down…it will be scorched earth in parks too

 

[Tha Realest]

D+, DCL

Debt servicing on the Fox deal, sunk costs on cancelled/scrapped projects like Epcot remodel, HamoniUS, and the MK show, cover losses by Lightyear (and in a week or two, Strange Worlds)

 

[Tha Realest]

You're not alone. The only streaming I pay for is for sports. I don't get the whole streaming thing. When you think about it, if you have more then 3 you're almost back at what you were paying for cable without the benefit of live TV.

Here’s why I think the bubble has yet to pop- I have access in some form or fashion to every service. One or two because I’m under a “family” plan hosted by my brother, but most others where I have free access due to cable subscription (HBO) or cell phone service (Peacock, Hulu, Paramount). Point being, am I a “subscriber” even though I am not paying $8/month for these services (and seriously doubt Sprint/T-Mobile was)? And do these companies differentiate these subscribers in their annual reports?

 

[lazyboy97o]

Board of directors, reach out to Tom Staggs. Tell him you were wrong and bring him back.

Strategic Planners wouldn’t be acting any differently.

 

[Lilofan]

This is the pre-recession move…

In six months if bookings are down…it will be scorched earth in parks too

That multi million dollar dud , the Star Wars hotel didn’t help either.

 

[lazyboy97o]

Parks don’t really have much left to cut.

But they, and Walt Disney World in particular, have for so long been expected to generate cash and undertake a disproportionate share of cuts to carry other parts of the company, it’s hard to believe old habits won’t kick in. They’re want to cut at Walt Disney World because that’s what they have always done. It’s what they know. It’s the instinctive reaction at the point.

 

[Jrb1979]

Here’s why I think the bubble has yet to pop- I have access in some form or fashion to every service. One or two because I’m under a “family” plan hosted by my brother, but most others where I have free access due to cable subscription (HBO) or cell phone service (Peacock, Hulu, Paramount). Point being, am I a “subscriber” even though I am not paying $8/month for these services (and seriously doubt Sprint/T-Mobile was)? And do these companies differentiate these subscribers in their annual reports?

Being in Canada we don't get deals like that or have access to many of those streaming services. I do think they count those subscribers but now that doesn't mean as much as now how much money they are making is more important. IMO I don't ever see the day streaming becomes that profitable. The bubble will pop at some point just like cable did.