Disney places 100,000 workers on unpaid leave – plans to save US$500m a month | attractionsmanagement.com news
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs   News   Features   Video    Products   Profiles   Magazine   Handbook   Advertise  
NEWS
Disney places 100,000 workers on unpaid leave – plans to save US$500m a month
POSTED 21 Apr 2020 . BY Tom Walker
Disney's attractions and hotels have been shut in Europe and the US for more than a month Credit: Shutterstock
Walt Disney is set to stop paying more than 100,000 of its theme park and hotel workers as the entertainment giant struggles with coronavirus closures.

Disney's attractions and hotels have been shut in Europe and the US for more than five weeks now.

According to the Financial Times, the company's decision to furlough and suspend pay for almost half of its workforce could save it up to $500m (£400m, €460m) a month.

The action is expected to affect more than 70,000 workers at the Walt Disney World Resort in Orlando, Florida alone.

In March, Disney's executive chair Bob Iger announced he would forgo his salary for the year, with the company's new CEO Bob Chapek also taking a 50 per cent pay cut.

On 5 April, Disney also cut wages by 20 per cent for all its VP level executives, while senior VPs were handed a 25 per cent pay cut. All executive VPs and above saw a 30 per cent cut.

During the last three months of 2019, Disney made an operating income of US$1.4bn for its parks, experiences and products.

While the company's parks business has been hit hard by the COVID-19 closures, the lockdown has resulted in its online streaming site Disney+ hitting more than 50m subscribers in just five months since it was launched.

The company has rolled out the digital service in eight Western European markets since the end of March.

“We’re truly humbled that Disney+ is resonating with millions around the globe, and believe this bodes well for our continued expansion throughout Western Europe and into Japan and all of Latin America later this year,” said Kevin Mayer, chairman of Walt Disney Direct-to-Consumer & International.
RELATED STORIES
Iger forgoes salary and Chapek takes pay cut as Disney wrestles with COVID-19


Disney's executive chair Bob Iger will forgo his salary for the year, with the company's new CEO Bob Chapek also taking a 50 per cent pay cut.
Disney parks donate surplus food following temporary closure


MORE NEWS
Tourism minister and former google travel exec, Nigel Huddleston, to deliver keynote speech at VAC 2020
UK tourism and heritage minister, Nigel Huddleston, will deliver a keynote speech during this year's Annual National Conference of Visitor Attractions (VAC) – which will be held this week (Wednesday 7 and Thursday 8 October) as a virtual event.
Triotech's Ernest Yale and BoldMove' Benoit Cornet announce collaboration
Ride specialist BoldMove and Triotech, a developer of multi-sensory interactive attractions, have announced a partnership which looks to create a "refreshing collaborative approach to the design of media-based attractions".
Pinewood Studios, home to James Bond and Star Wars, set to house major visitor attraction
The UK's best-known film studio, used for the filming of blockbusters such as the James Bond and Star Wars franchises, is set to house a major new visitor attraction.
Bletchley Park and Eltham Palace's immersive LGBTQ+ show among winners of UK Heritage Awards
The home of British codebreaking, Bletchley Park has been named among the winners of this year's UK Heritage Awards – alongside an immersive performance charting LGBTQ+ heritage.
+ More news   
LATEST JOBS
Visitor services officer
Forestry England
Salary: £20,752pa
Job location: Wendover, Aylesbury, UK
Visitor services assistant
Forestry England
Salary: £18,235pa FTE
Job location: Wendover, Aylesbury, UK
+ More jobs  

COMPANY PROFILES
QubicaAMF UK

QubicaAMF is the largest and most innovative bowling equipment provider with 600 employees worldwi [more...]
IAAPA EMEA

IAAPA Expo Europe is owned and produced by IAAPA, The Global Association for the Attractions Industr [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
RMA Ltd

RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
+ More profiles  
FEATURED SUPPLIER

Triotech and Benoit Cornet’s Bold Move to collaborate on breakthrough innovative media-based attractions
Triotech has announced a breakthrough alliance with Benoit Cornet and Bold Move to bring a new collaborative approach to the design of media-based attractions – with an emphasis on adding value for operators. [more...]
VIDEO GALLERY

Animalive - Introducing AnimaChat!
Introducing AnimaChat, one operator can live-stream into multiple venues. Find out more...
More videos:
Experience the experience – Polin Waterparks & Pool Systems
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

17-23 Oct 2020

World Leisure Congress 2020

Pinggu, Beijing, China
03-06 Nov 2020

Piscina & Wellness Forum

Online,
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2020 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

06 Apr 2020 issue 153


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020
Jobs   News   Products   Magazine
NEWS
Disney places 100,000 workers on unpaid leave – plans to save US$500m a month
POSTED 21 Apr 2020 . BY Tom Walker
Disney's attractions and hotels have been shut in Europe and the US for more than a month Credit: Shutterstock
Walt Disney is set to stop paying more than 100,000 of its theme park and hotel workers as the entertainment giant struggles with coronavirus closures.

Disney's attractions and hotels have been shut in Europe and the US for more than five weeks now.

According to the Financial Times, the company's decision to furlough and suspend pay for almost half of its workforce could save it up to $500m (£400m, €460m) a month.

The action is expected to affect more than 70,000 workers at the Walt Disney World Resort in Orlando, Florida alone.

In March, Disney's executive chair Bob Iger announced he would forgo his salary for the year, with the company's new CEO Bob Chapek also taking a 50 per cent pay cut.

On 5 April, Disney also cut wages by 20 per cent for all its VP level executives, while senior VPs were handed a 25 per cent pay cut. All executive VPs and above saw a 30 per cent cut.

During the last three months of 2019, Disney made an operating income of US$1.4bn for its parks, experiences and products.

While the company's parks business has been hit hard by the COVID-19 closures, the lockdown has resulted in its online streaming site Disney+ hitting more than 50m subscribers in just five months since it was launched.

The company has rolled out the digital service in eight Western European markets since the end of March.

“We’re truly humbled that Disney+ is resonating with millions around the globe, and believe this bodes well for our continued expansion throughout Western Europe and into Japan and all of Latin America later this year,” said Kevin Mayer, chairman of Walt Disney Direct-to-Consumer & International.
RELATED STORIES
Iger forgoes salary and Chapek takes pay cut as Disney wrestles with COVID-19


Disney's executive chair Bob Iger will forgo his salary for the year, with the company's new CEO Bob Chapek also taking a 50 per cent pay cut.
Disney parks donate surplus food following temporary closure


MORE NEWS
Tourism minister and former google travel exec, Nigel Huddleston, to deliver keynote speech at VAC 2020
UK tourism and heritage minister, Nigel Huddleston, will deliver a keynote speech during this year's Annual National Conference of Visitor Attractions (VAC) – which will be held this week (Wednesday 7 and Thursday 8 October) as a virtual event.
Triotech's Ernest Yale and BoldMove' Benoit Cornet announce collaboration
Ride specialist BoldMove and Triotech, a developer of multi-sensory interactive attractions, have announced a partnership which looks to create a "refreshing collaborative approach to the design of media-based attractions".
Pinewood Studios, home to James Bond and Star Wars, set to house major visitor attraction
The UK's best-known film studio, used for the filming of blockbusters such as the James Bond and Star Wars franchises, is set to house a major new visitor attraction.
Bletchley Park and Eltham Palace's immersive LGBTQ+ show among winners of UK Heritage Awards
The home of British codebreaking, Bletchley Park has been named among the winners of this year's UK Heritage Awards – alongside an immersive performance charting LGBTQ+ heritage.
IAAPA cancels Attractions EXPO – pivots to virtual event
IAAPA has cancelled this year's Attractions Expo in Orlando and pivoted to a digital event, announcing a new virtual conference will take place on the same dates – 16-18 November.
Warner Bros. to open Harry Potter studio attraction in Japan
Warner Bros. has revealed plans to develop a Harry Potter studio tour attraction in Japanese capital Tokyo.
+ More news   
 
COMPANY PROFILES
QubicaAMF UK

QubicaAMF is the largest and most innovative bowling equipment provider with 600 employees worldwi [more...]
IAAPA EMEA

IAAPA Expo Europe is owned and produced by IAAPA, The Global Association for the Attractions Industr [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
RMA Ltd

RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
+ More profiles  
FEATURED SUPPLIER

Triotech and Benoit Cornet’s Bold Move to collaborate on breakthrough innovative media-based attractions
Triotech has announced a breakthrough alliance with Benoit Cornet and Bold Move to bring a new collaborative approach to the design of media-based attractions – with an emphasis on adding value for operators. [more...]
VIDEO GALLERY

Animalive - Introducing AnimaChat!
Introducing AnimaChat, one operator can live-stream into multiple venues. Find out more...
More videos:
Experience the experience – Polin Waterparks & Pool Systems
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

17-23 Oct 2020

World Leisure Congress 2020

Pinggu, Beijing, China
03-06 Nov 2020

Piscina & Wellness Forum

Online,
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS