Disney to start Furloughs April 19th

[MisterPenguin]

So, people have pointed out that with the Federal stimulus package, the Feds will add an extra $600 per week to state unemployment until the end of July... which for some people is *more* money than they're currently making. So, I did some back of envelope spreadsheeting:

Assuming that the WDW employee is eligible for FL unemployment (having worked for the past 5 quarters), they would get half of their usual paycheck. (A lot of assumptions are made here assuming same pay over that entire period.)

So, someone working 30 hours a week at $13/hour is, by the time of the end of July when the extra $600 runs out (assuming Congress doesn't extend it), is going to have made and extra $6,000 than if they had continued working.

After July, their unemployment is just half their usual weekly paycheck and by February, they will have received almost exactly as much as if they had worked that entire time (assuming FL would even extend unemployment for that long, which is unlikely).​

The more you earn, the less the extra $600 will tide you over...

If someone was working 40 hours/wk at $15/hour, then at the end of July, they would have received $4,200 more than they would have if they had remained working.

After July, their unemployment is just half their old wage, and by mid-November, they would have received as much as if they were working. After that, they have to live on half their salary (if FL lets unemployment go that long).​

And for someone who was working 40 hours/week at $25/hour, then at the end of July, they would have received only $1,000 more than if the were working. And two weeks later, as much as if they were working. After that, they live on half their salary in unemployment.

 

[Polkadotdress]

So, people have pointed out that with the Federal stimulus package, the Feds will add an extra $600 per week to state unemployment until the end of July... which for some people is *more* money than they're currently making. So, I did some back of envelope spreadsheeting:

Assuming that the WDW employee is eligible for FL unemployment (having worked for the past 5 quarters), they would get half of their usual paycheck. (A lot of assumptions are made here assuming same pay over that entire period.)

So, someone working 30 hours a week at $13/hour is, by the time of the end of July when the extra $600 runs out (assuming Congress doesn't extend it), is going to have made and extra $6,000 than if they had continued working.

After July, their unemployment is just half their usual weekly paycheck and by February, they will have received almost exactly as much as if they had worked that entire time (assuming FL would even extend unemployment for that long, which is unlikely).​

The more you earn, the less the extra $600 will tide you over...

If someone was working 40 hours/wk at $15/hour, then at the end of July, they would have received $4,200 more than they would have if they had remained working.

After July, their unemployment is just half their old wage, and by mid-November, they would have received as much as if they were working. After that, they have to live on half their salary (if FL lets unemployment go that long).​

And for someone who was working 40 hours/week at $25/hour, then at the end of July, they would have received only $1,000 more than if the were working. And two weeks later, as much as if they were working. After that, they live on half their salary in unemployment.

That math is somewhat inaccurate, as our MAX weekly unemployment rate here in FL (before the $600) is $275.

From our State website:
In Florida, your weekly benefit amount is calculated by dividing your total earnings for the highest paid quarter of the base period by 26, up to a current maximum of $275per week. You can receive benefits for anywhere between 12 to 23 weeks, depending on Florida's current unemployment rate.

 

[Sirwalterraleigh]

So what happens to those with the union.

One Union leaders tells us they are meeting with Disney tomorrow morning

Florida is “right to work”...so it doesn’t matter. California is a bit more Interesting...but this is still unavoidable

Think back to the year or so after 9-11. Lands phase opening during the day. Shows offered on a limited basis. No EMHs or after hour events. Limited dining.

I worked in TDO during that time...it was a completely different situation and was the result of more factors than one Tuesday in late summer.

This is a much harder scenario if we’re honest.

That math is somewhat inaccurate, as our MAX weekly unemployment rate here in FL (before the $600) is $275.

From our State website:
In Florida, your weekly benefit amount is calculated by dividing your total earnings for the highest paid quarter of the base period by 26, up to a current maximum of $275per week. You can receive benefits for anywhere between 12 to 23 weeks, depending on Florida's current unemployment rate.

$275 is pathetic...but then I remembered what state we were talking about...my bad

 

[Getachew]

Florida is “right to work”...so it doesn’t matter. California is a bit more Interesting...but this is still unavoidable

I worked in TDO during that time...it was a completely different situation and was the result of more factors than one Tuesday in late summer.

This is a much harder scenario if we’re honest.

$275 is pathetic...but then I remembered what state we were talking about...my bad

Absolutely true. I like FL a lot except for a lot of it's "politics" so to speak.

 

[Sirwalterraleigh]

This is a good summary of the situation and the factors:

Disney furloughs employees 'whose jobs aren't necessary at this time'

Facing a complete standstill across its entertainment empire due to the coronavirus crisis, the Walt Disney Company notified its employees that it would furlough employees "whose jobs aren't necessary at this time" starting on April 19th.

www.cnn.com

 

[Sirwalterraleigh]

Absolutely true. I like FL a lot except for a lot of it's "politics" so to speak.

Completely understandable...it’s just the reality of a “service economy” combined with luring people who are not interested in paying for good public infrastructure to move in since 1950. It is what it is.

 

[MisterPenguin]

That math is somewhat inaccurate, as our MAX weekly unemployment rate here in FL (before the $600) is $275.

From our State website:
In Florida, your weekly benefit amount is calculated by dividing your total earnings for the highest paid quarter of the base period by 26, up to a current maximum of $275per week. You can receive benefits for anywhere between 12 to 23 weeks, depending on Florida's current unemployment rate.

Ah, thanks for the correction! So someone making $15/hour would max out FL's unemployment at 36.5 hours/week. So, to recalculate:


So, someone working 30 hours a week at $13/hour is, by the time of the end of July when the extra $600 runs out (assuming Congress doesn't extend it), is going to have made and extra $6,000 than if they had continued working.

After July, their unemployment is just half their usual weekly paycheck and by February, they will have received almost exactly as much as if they had worked that entire time (assuming FL would even extend unemployment for that long, which is unlikely).​

The more you earn, the less the extra $600 will tide you over...

If someone was working 40 hours/wk at $15/hour, then at the end of July, they would have received $3,800 more than they would have if they had remained working.

After July, their unemployment is just half their old wage, and by late October, they would have received as much as if they were working. After that, they have to live on half their salary (if FL lets unemployment go that long).​

And for someone who was working 40 hours/week at $25/hour, then at the end of July, they would have received $1,800 less than if they were working. And then after that, $725 less per week.

 

[DVCakaCarlF]

Everyone forgets that unemployment is not a long term solution...eventually, it runs out.

 

[Sirwalterraleigh]

Everyone forgets that unemployment is not a long term solution...eventually, it runs out.

True...but it’s not rigid either depending on the situation.

If ye recall, the cap on federally funded unemployment benefits during the housing crash ended up being 99 weeks. 2 years.

 

[larryz]

So, people have pointed out that with the Federal stimulus package, the Feds will add an extra $600 per week to state unemployment until the end of July... which for some people is *more* money than they're currently making. So, I did some back of envelope spreadsheeting:

Thanks, Carnac...

 

[eliza61nyc]

We're starting to veer into politics here, but much of the current political leadership of the country is opposed to extending unemployment benefits. So don't count on 99 weeks.

True but this is crazy unprecedented. Didn't something like 6 million file for benefits this week alone.

I will be shocked if my company doesn't do the same if things don't change in a few weeks. No way are they going to continue paying folks that can't come to work

 

[kpilcher]

Florida is “right to work”...so it doesn’t matter. California is a bit more Interesting...but this is still unavoidable

I worked in TDO during that time...it was a completely different situation and was the result of more factors than one Tuesday in late summer.

This is a much harder scenario if we’re honest.

$275 is pathetic...but then I remembered what state we were talking about...my bad

The person you quoted said 12 to 23 weeks depending on unemployment rates. That rate is set around the first of every year. This year we had record low unemployment when it was set. So right now it’s 12 weeks.

 

[Doberge]

Also need to factor in CM money saved not paying employee share of benefit premiums, a cost Disney is picking up.

 

[Club Cooloholic]

I hate to think negative but I have seen this with my own eyes. They will be furloughed but many will find their jobs have been phased out or eliminated.

Where will they find other jobs? They are in service, hospitality, and entertainment....and right now, NOBODY is offering that. This isn't the same as one company suffering cash woes, this is multiple industries all shut down.
Edit: I agree some jobs will be gone, especially in management and operations more than day to day.

 

[Sirwalterraleigh]

The person you quoted said 12 to 23 weeks depending on unemployment rates. That rate is set around the first of every year. This year we had record low unemployment when it was set. So right now it’s 12 weeks.

But a federal supplemental program would extend that.

I see the confusion...but a federal funded supplement takes the cost from the state and is paid by Sam. That’s how it works. That’s what happened in 2008-10.

The only reason florida wouldn’t do it is utter stupidity....

...insert joke here

 

[Sirwalterraleigh]

We're starting to veer into politics here, but much of the current political leadership of the country is opposed to extending unemployment benefits. So don't count on 99 weeks.

That’s not politics...that was 100% facts. It happened it’s historical record.

Facts are what they are...not a matter of mine or anyone’s opinion .

True but this is crazy unprecedented. Didn't something like 6 million file for benefits this week alone.

I will be shocked if my company doesn't do the same if things don't change in a few weeks. No way are they going to continue paying folks that can't come to work

6.6 million this week...3.3 last.

10 mil...massive unemployment never seen in that kinda speed. Previous high in UE new claims was 680,000 in a week in 1982. Peak UE in 1933 was 23%

Some analysts predicting as high as 52% in the short term.

Again...all cold hard facts.

 

[natatomic]

I don't know if the statistics are accurate or they lying but USA having twice as more cases than Italy, Spain, Germany or even China is worrying. Almost 243,229 as of this day. If it goes higher in the next few weeks then extension of closures of everything will happen.

Aside from China, we have individual states that have more people than some of those countries have, so yes, we will naturally have more cases. More people, more cases.

As for China, I don’t think anyone truly believes the numbers they’re releasing. Not even the Chinese.

 

[FullSailDan]

True...but it’s not rigid either depending on the situation.

If ye recall, the cap on federally funded unemployment benefits during the housing crash ended up being 99 weeks. 2 years.

im curious how this will work too given that in FL unemployment requires the applicant to show good faith effort in becoming employed. Ain’t nobody hiring right now

 

[Sirwalterraleigh]

im curious how this will work too given that in FL unemployment requires the applicant to show good faith effort in becoming employed. Ain’t nobody hiring right now

That requirement is waived under the recent act enacted by the federal government...I believe.

And contrary to myth, all states have that requirement to varying degrees.

I think any comparisons to other event, unemployment situations are null and void here. They knew it would be required, no fault unemployment and the people need to stay home. That’s why it was enacted this way...they’re just trying to float the economy...a rare “good of the many” policy outta DC.

 

[MisterPenguin]

where will disney find TP?
id like to find some

They make their own...