Disney Parks laying off 28,000 cast members

[MichiganScott]

I do think the price was high, but if it offered something extra then it might not be. It should at the very least have been included in the ol' "Plus" option like how DisneyQuest was included in "Waterpark Fun and More" - that would have driven more traffic. There are a lot of NBA fans out there though.

Yeah, there are NBA fans, but of those that visit Disney, I just don't see the NBA being more than only a small percentage. I always looked at the NBA experience as something like Ripley's Believe it or Not. Some folks will enjoy it, most will just pass it by.

I also thought it was horribly presented. We went in to check it out and wanted to see what the different stations were like, because if they looked fun enough, I might drop some $ for us to try it out. They couldn't do anything but show me a pricing brochure and barely explain what's behind the pay-wall (and would absolutely not let me "take a peek"), so we passed it by and never looked back.

 

[rteetz]

Photopass photographers totally gone? oh wow. Well I guess they are purging all their "extra" money makers. The parks will be like they were back in the day -- low crowds, fun rides, characters randomly out and about. But I will miss the photopass. It was always something I got (and I valued the AP for including).

At Disneyland they are I believe. Not completely gone in WDW.

 

[New Mouse]

And let's not forget that Walt brought the company to near bankruptcy more than once.

Sure, when he had next to no money. I think he probably woulda done ok with 20 billion in the bank.

 

[Starport Seven-Five]

I think if it was like $10 it would work.
$34 is just too high when you are competing with restaurants and food at Disney Springs on top of having spent a fortune on Disney. One didn't come all the way out to WDW to do NBA experience. They came to enjoy the Disney Parks, Universal Parks, their hotel/resorts and food. Something like a $35 NBA experience is going to be one of the last things on people's list to do in Orlando.

I see it as a "rest day" activity for the kids while the parents shop. I know I would have loved to visit it when I was 14.

Honestly not sure if the NBA has the same pull these days though because "when I was 14" was the Jordan/Bulls era.

 

[TheMaxRebo]

Sure, when he had next to no money. I think he probably woulda done ok with 20 billion in the bank.

eh, I think he would have come up with some ways to spend $20bn pretty quick ... now, Roy on the other hand I think would have done ok with it

 

[RamblingMad]

Low wage workers generally don't have the resources to relocate. It's an unfortunate chicken and the egg scenario: can't earn enough to relocate but need to relocate to earn enough

Basically, you need to relocate to work. This is why folks are talking about the K shaped recovery. One group is likely to have a lower standard of living once this is all over.

 

[BrianL]

eh, I think he would have come up with some ways to spend $20bn pretty quick ... now, Roy on the other hand I think would have done ok with it

Just imagine what Walt could create with an unfettered $20 billion. It would be glorious!

 

[Eric Smith]

At Disneyland they are I believe. Not completely gone in WDW.

I would guess that photopass being gone in Disneyland is related to the fact that fast passes won't be a thing for a while and photopass is tied to fast pass out there.

 

[RivShore]

Just imagine what Walt could create with an unfettered $20 billion. It would be glorious!

That $20b is not unfettered, there's also $70B of debt on the books that has to be taken into consideration.

 

[TheMaxRebo]

Just imagine what Walt could create with an unfettered $20 billion. It would be glorious!

I imagine half of Distwitter would still complain

 

[rteetz]

I imagine half of Distwitter would still complain

Only half?

 

[Brianstl]

FYI there are plenty of places hiring in central FL right now, including Sea World. No one I know in the area who has been effected is fleeing.

The unemployment rate in Orlando-Kissimmee-Sanford was 11% and the number of people employed in the area has shrunk by 9% since March before these layoffs. That doesn't reflect an area with a bunch of available jobs.

 

[Brianstl]

Sure, when he had next to no money. I think he probably woulda done ok with 20 billion in the bank.

People need to stop acting like the $20 billion Disney has in the bank is money they can just spend on what they choose. Much of that money was borrowed over the last 6 months so Disney would have the cash on hand to pay other debts they have coming due. They had to pay 200 basis point higher to borrow that money than they did when they previously sold debt.

Disney isn't going to go bankrupt in the next 12 months. They have an additional $5 billion line of credit (with worse terms than their last few rounds of borrowing) with Citibank they can tap and they have assets they can sell if things get really ugly. That said, Disney is in as bad of a financial situation as they have been in a long time and have to really restrain spending as revenues have really slowed. That $20 billion is there so Disney can survive the next 12 months.

 

[atricks]

I'm hearing (but haven't confirmed) that the Hoop de Doo review was wiped out today.

 

[Eric Smith]

I'm hearing (but haven't confirmed) that the Hoop de Doo review was wiped out today.

Where did you see this?

 

[jknezek]

I'm hearing (but haven't confirmed) that the Hoop de Doo review was wiped out today.

Would anyone be surprised? Look, if it's not open right now, and it relies on cast performers, they were most likely part of the layoffs. I love the Hoop de Doo, but over 50 years (almost) of performances, the performers have changed regularly. Letting them go now absolutely stinks for those individuals, but it makes sense to the company. They can either be rehired in 6-12 months or new performers can be found. I know that sounds awful, but it is, sadly, true.

 

[BrianL]

That $20b is not unfettered, there's also $70B of debt on the books that has to be taken into consideration.

I wasn't saying it was - it was just a fantastical proposition because Walt was very good at spending money and creating wonderful things with it. If he had that to just go crazy with - man, it would be something!

 

[SmartyBacon]

The unemployment rate in Orlando-Kissimmee-Sanford was 11% and the number of people employed in the area has shrunk by 9% since March before these layoffs. That doesn't reflect an area with a bunch of available jobs.

The extra $600/week kept people from seeking employment. A high percentage of businesses have "help wanted" signs in their windows. I just left a restaurant on the Disney border that's looking for servers and bartenders...there are jobs to be had for those that are interested in working.

 

[mikeamizzle]

It was effective.

why did they stop?

 

[Brianstl]

The extra $600/week kept people from seeking employment. A high percentage of businesses have "help wanted" signs in their windows. I just left a restaurant on the Disney border that's looking for servers and bartenders...there are jobs to be had for those that are interested in working.

The extra $600 stopped two months ago. It doesn't explain the high unemployment and lower numbers of workers in September.