How Much Could Disney Save With an April Employee Furlough?
According to a JP Morgan report, Disney could save up to $500 million with an April furlough of Walt Disney World, Disneyland, and Disneyland Paris employees. All Disney parks and Disney Cruise Line remain closed currently through March 31st, but an announcement of extensions of these closures is expected any day.
Two California Parks, four Florida Parks, and two Parks in France all remain closed. These closures came after Parks in China, Hong Kong and Japan closed in February and early March. The JP Morgan report estimates that these closures could have a $1 billion effect on the Walt Disney company. With this large sum of money lost, the Walt Disney Company could be considering employee furloughs.
The company announced it would pay employees through the end of the March 31st closure, but with the company bleeding money, furloughs for the month of April are in the realm of possibility. Walt Disney Company is not the only one having to make these incredibly hard decisions during this time.
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Disney employs 125,000 cast members at its theme park resorts in Florida, California and France — with 77,000 at the Disney World resort, 31,000 at the Disneyland resort and 17,000 at the Disneyland Paris resort (OCregister.com).
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