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

[Lilofan]

Lots of companies cutting jobs right now. I was recently laid off from a huge company with huge cuts but Twitter and Meta really stole the spotlight while some of these other (equally massive and well known) companies probably sighing a breath of relief the media hasn't picked up on it.

Unfortunately some of my coworkers are applying/interviewing at Disney now so hopefully theyll be ok

Chapek announced besides layoffs is a hiring freeze. Sorry to hear of your situation hopefully you left with a severance package?

 

[GimpYancIent]

You’re in my wheelhouse…

There’s ways around “cuts” that aren’t advertised in the sentinel.

Freeze is first…they lose employees by the day…Comcast will pounce on that weakness.

Eliminate part timers/CT if they still have them next.

Then it’s “rah rah cis boom bah!!!” With college program.

A “buyout” for frontline management is sure to follow. For about $10

There are ways to “cut” while hiding under cover.

 

[Lilofan]

You’re in my wheelhouse…

There’s ways around “cuts” that aren’t advertised in the sentinel.

Freeze is first…they lose employees by the day…Comcast will pounce on that weakness.

Eliminate part timers/CT if they still have them next.

Then it’s “rah rah cis boom bah!!!” With college program.

A “buyout” for frontline management is sure to follow. For about $10

There are ways to “cut” while hiding under cover.

The ironic part is when companies make tough decisions like layoffs , Wall Street likes what they hear .

 

[Piebald]

Chapek announced besides layoffs is a hiring freeze. Sorry to hear of your situation hopefully you left with a severance package?

Yes got a good severance package so certainly not woeful but just another massive layoff of folks flooding the job market that supposedly is "2 jobs for every 1 job! No one wants to work!" That has certainly not been my experience recently. Seems the market is slowing down significantly and companies are tightening up or having layoffs.

 

[CaptainAmerica]

A "lever" like dynamic staffing based on (falling) park attendance certainly does have something to do with frontline parks and costumed cast members.

Disney has been staffing their parks to anticipated demand since 1955. That has nothing to do with yesterday's memo.

 

[Tha Realest]

Disney has been staffing their parks to anticipated demand since 1955. That has nothing to do with yesterday's memo.

Yes but now they have near absolute certainty how many will be in a given park between 8am-2pm, and a ceiling on how many will be in the aggregate after 2pm.

 

[JoeCamel]

Yes but now they have near absolute certainty how many will be in a given park between 8am-2pm, and a ceiling on how many will be in the aggregate after 2pm.

I wonder what portion of reservations are no shows.

 

[CaptainAmerica]

Yes but now they have near absolute certainty how many will be in a given park between 8am-2pm, and a ceiling on how many will be in the aggregate after 2pm.

Park Pass doesn't tell them any more than FastPass+ did, which didn't tell them a whole lot more than their old internal forecasting did. Park Pass is about steering guest behavior, not predicting it. They've always been pretty good at predicting it.

 

[wdwfan4ver]

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

It is most likely going to pay off The Walt Disney Company's debt. I know The Walt Disney Company as of June of 2022 had a debt over 46 billion dollars. Disney also has to pay Comcast in January of 2024 for Comcast's 33 percent stake in Hulu with Comcast getting at least 8.8 billion dollars.

What caused this debt is two things starting with the debt from Fox. The 2nd thing is Disney borrowed 11 billion dollars in 2020 due to covid.

As far as Fox goes, remember Disney paid 73.1 billion dollars after Comcast decided to get in a bidding war with Disney with it. Remember Disney originally had a bid much lower than 73.1 billion dollars before Comcast drove the price up.

 

[Lilofan]

Disney has been staffing their parks to anticipated demand since 1955. That has nothing to do with yesterday's memo.

Anticipated demand on opening day at DL in 1955? Beg to differ , DL ran out of toilet paper and food and drink opening day.

 

[Laketravis]

I have a difficult time understanding how anyone could believe the parks and especially front-line CM's are immune to hiring freezes, layoffs, and reduced staffing due to attrition. Chapek has even stated his fondness for the park reservation system, I would presume because he sees it as an already established means to dynamically reduce staffing costs in response to lower demand.

 

[Sirwalterraleigh]

Iger tried leaving a few times but the Board convinced him to stay. A number of companies are laying off staff, Disney is one of them.

Because.
They.
Had.
No.
One.
To.
Replace.
Him.
!


(And still don’t)

 

[networkpro]

I have a difficult time understanding how anyone could believe the parks and especially front-line CM's are immune to hiring freezes, layoffs, and reduced staffing due to attrition. Chapek has even stated his fondness for the park reservation system, I would presume because he sees it as an already established means to dynamically reduce staffing costs in response to lower demand.

Disney is more than just the parks. With the new reorganization, they've attempted to hide the dirty laundry formerly known as "Direct to Consumer & International" into "Media and Entertainment Distribution" where it almost balances out.

Annual Operating income of the Walt Disney Company (Re-segmented) (in millions USD)

Year	Studio Entertainment	Direct-to-Consumer & International	Parks, Experiences and Products	Disney Media Networks	Total	Source
2018	3,004	−738	6,095	7,338	15,689	[516]
2019	2,686	−1,814	6,758	7,479	14,868	[517]
2020	2,501	−2,806	−81	9,022	8,108	[518]

Annual Operating income of the Walt Disney Company (Re-segmented) (in millions USD)

Year	Media and Entertainment Distribution	Parks, Experiences and Products	Total	Source
2021	7,295	471	7,766	[519]
2022	4,216	7,905	12,121	[520]

 

[donsullivan]

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

You have to let go of the parks-centric view that is dominant on this site. The Walt Disney Company is way, way more than just parks. Between ABC, ESPN and other cable networks. Disney+ and Hulu and then all of the studios from Fox to Marvel to Lucasfilm to Pixar to Disney and then you have parks and cruise line and consumer products and countless other business operations. This statement is about the entire Disney corporation, not parks and least of all front-line cast members in the parks.

This web page will give you a great perspective on everything that makes up The Walt Disney Company:

Disney - Leadership, History, Corporate Social Responsibility

The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise.

thewaltdisneycompany.com

 

[Lilofan]

Because.
They.
Had.
No.
One.
To.
Replace.
Him.
!


(And still don’t)

It’s incredible not a potential outsider can be considered by the Disney Board to be in the running to run the number 1 entertainment company of the world.

 

[Sirwalterraleigh]

I have a difficult time understanding how anyone could believe the parks and especially front-line CM's are immune to hiring freezes, layoffs, and reduced staffing due to attrition. Chapek has even stated his fondness for the park reservation system, I would presume because he sees it as an already established means to dynamically reduce staffing costs in response to lower demand.

There are two types of people that automatically jump on boards and proclaim no frontline layoffs when they downsize. Which is not true and never will be…
It’s self soothing.

Those people are
A. Disney Fans that can’t live a day without thinking about it.
B. Cast Members

Deep down…everyone knows I’m right on this.

And a reminder: hate the game…not the PLAYER

 

[Casper Gutman]

Truly, cutting back on content for streaming is a great reaction to the fact that the subscriber base for your streaming service isn't growing fast enough.

Every single person involved knew the "shift everything to streaming" model was going to mean huge losses for several years - and that was a best case scenario. Now, the entire entertainment and financial industry is losing their mind over something they knew was going to happen. It's incredible. And remember, D+ is the new streaming service that's doing the best!

 

[Sirwalterraleigh]

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

Parks have always been an “engine” for money to pay for other segments.

Now it’s worse than ever. Due to the decline in tv/espn revenue

When you pay for parks…you are paying for abc, d+, adventures by Disney….WABC radio…

That’s the deal. Don’t expect it to come back to you as you stand on the concrete

 

[Casper Gutman]

So we've got some folks convinced the cuts won't effect front-line park CMs (or maintenance or guest service). Is that based on some actual knowledge, or just the fact that Disney is so smart they'd never do something that stupid?

 

[Sirwalterraleigh]

So we've got some folks convinced the cuts won't effect front-line park CMs (or maintenance or guest service). Is that based on some actual knowledge, or just the fact that Disney is so smart they'd never do something that stupid?

…it’s not based on history…for sure.

As I said…rate of daily attrition/churn results to layoffs across the board.

I’ve seen casting with tumbleweed rolling through the parking lot before…

Sorry “grapefruit” or whatever it’s called now