reported on September 30 On September 29, Disney announced that it would lay off 28,000 employees in theme parks in the United States, accounting for 25% of the total park employees. Disneyland said, "Although it makes people sad, because the new crown pneumonia epidemic continues to cause severe damage to the business," Disney has no choice but to lay off employees. 67% of the layoffs are hourly workers, and some executives and full-time employees are also on the list of layoffs. It is reported that Disneyland in the United States is still not open.
Because California Governor Newsom refused to reopen Disneyland California, about 31,000 people have been given unpaid leave. In fact, as early as April this year, on April 19, the British "Financial Times" reported that Disney stopped paying 100,000 employees, and the number of people affected accounted for half of its total employees. Doing so will save Disney nearly $500 million in monthly expenses to ease the company's economic pressure.
Although Disney Florida has reopened, the number of people entering the park is not as good as expected. According to reports, Disney has begun negotiations with the union. However, about 20,000 employees have not joined the union, and another 20,000 non-union employees have been on unpaid leave since April. On Tuesday, The Walt Disney Company announced that it would lay off approximately 28,000 American employees in its theme park department because of the limited number of tourists in its resorts. The California Disneyland has continued to close due to the new crown pandemic, and its operations are in trouble.
On May 5, local time, the Walt Disney Company announced its financial report for the second fiscal quarter of fiscal year 2020 (that is, the first quarter of 2020, as of March 28). The
financial report shows that the total revenue in the first quarter of 2020 was 18.01 billion US dollars, a year-on-year increase of 20.7%. Net profit in the first quarter was US$460 million, compared with US$5.452 billion in the same period last year, a year-on-year decrease of 91.56%; adjusted earnings per share was US$0.60, lower than the expected US$0.89, a year-on-year decrease of 63%.
Disney said that due to the 2019 new crown pneumonia epidemic, Disney parks, cruise ships and stores were forced to close, which has caused its theme parks, experience and consumer products departments to lose $1 billion in the first quarter.
It is reported that the theme parks, experience and consumer products sector includes all Disney International theme parks, cruise lines, hotels, tourism, and merchandise, and is the fastest growing segment of Disney’s profits. In the first quarter, revenue from the parks, experience and consumer products sector was US$5.54 billion, down 10% year-on-year; operating profit was US$639 million, down 58% year-on-year.
It is understood that in the last three months of 2019, Disney's revenue from parks, experiences and products increased by 17% to 1.4 billion US dollars. In March 2020, Disney increased its debt and signed a new line of credit, giving the company about $20 billion in cash flow to cope with the economic downturn. Rich Greenfield, an analyst at the US securities firm BTIG, said: "(Even if employees are not suspended from pay) they can afford it."
However, he believes that the reason for Disney's "no pay" move may be that it is ready for a "very long shutdown." Last year, Disney received nearly $7 billion in operating income from the business of parks, experiences and related products, accounting for nearly half of all operating profits. But since the outbreak of the new crown epidemic, Disney's stock price has fallen by a quarter.
Prior to May 17, according to CCTV News, Disney announced that some of its subsidiaries in the United States will reopen on May 27, local time, and related venues have been closed for several weeks. The latest policy requires tourists to wear masks or cover their mouth and nose. Disney announced that they will also test the body temperature of tourists before entering the park, and adopt policies such as flow restriction and social isolation. Then, California Disneyland also announced that it will reopen on July 17. However, as the California epidemic continues to worsen, the plan to reopen the park has been postponed and the reopening date has also been postponed. Previously, after Disneyland announced the opening time, a large number of people were opposed. Many employees wrote to the Governor of California, thinking that there are still many safety hazards in the reopening of the park and suggesting to continue to delay the opening time.
related review:
Shanghai Disney will reopen on May 11 to control daily visitor volume
After more than 3 months of closure, Shanghai Disney Resort reopened to the public on May 11, which is also the world's first Disney's home reopened. Before the official opening of the park, a special celebration ceremony was also held in front of the "Minnie in the Flower" flowerbed, which was changed into the new spring outfit. The cast and crew from various theme parks in the park and invited Disney fans and guests joined Mickey and his friends, Duffy and his partners, Marvel superheroes, Disney princesses, Toy Story partners, etc. 30 Many Disney friends witnessed this important and special moment together. Xue Yijun, President and General Manager of
Shanghai Disney Resort, said: "Since Disney Town, Wish Star Park and Shanghai Disneyland Hotel resumed operations in early March, we have been deeply moved by the enthusiasm and encouragement from tourists and Disney fans. Today With the unremitting efforts and support of our cast and crew and all parties, we are very happy to reopen Shanghai Disneyland, to remember this joyous moment together, and look forward to and welcome visitors back to this magical place."
It is understood that Shanghai Disney Resort and local regulatory authorities have maintained close cooperation on the reopening of Shanghai Disneyland. In the early stage of resuming operations, Shanghai Disneyland implemented a series of new operational measures and procedures, including the implementation of current restrictions, requiring tourists to purchase tickets in advance and making reservations for admission; arranging security in the queue area, restaurants, amusement projects and other facilities in the park Distance; and increase the frequency of sanitation and disinfection.
(responsible editor: Liu Jiaxin_NBJS11395)
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