Disney considering job cuts

[GrumpyFan]

I hate to be the bearer of bad news, but I saw this item in the news this morning. They're just talking about it right now, and preparing for the worst, so nothing yet.

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(Reuters) – Walt Disney Co executives have been meeting this week to prepare belt-tightening measures that could include job cuts, the Los Angeles Times said, citing people familiar with the discussions.

The sources told the paper that staff reductions were being contemplated companywide.

Anne Sweeney, co-chair of Disney Media Networks, asked senior staff to recommend possible cuts in case the economy deteriorates further, according to the paper.

Other divisions have also been asked to make similar evaluations, the paper said citing one executive.

Walt Disney Co could not be immediately reached for comment by Reuters.

(Reporting by Ajay Kamalakaran in Bangalore, editing by Will Waterman)

[Marker]

With the economy like it is, what business isn't looking at ways to cut costs, including possible job cuts. They could just about swap any cmpany name into that article and it would be just as accurate (or not).

[Polynesian Dweller]

Unfortunately, in this global economy, this is not surprising. All companies will be doing this. This phase of the economy too will pass but it will be painful for many. Wish it wasn't so.

[Mackflava99]

Agreed its scarry right now..
Normally disney tries hard not to cut but they may begin with the parttimers..
it will turn around though, it has to.

[Figaro]

I'm seasonal right now and I'm hoping they don't axe us. It's certainly going to end up being an advantage to the FTs since most ended up losing hours.

[Ed]

DW's department has been much more liberal lately in allowing CMs to "ER" (Early Release) - leave before the end of the assigned shift - unpaid, of course.

[MinnieMommie]

Given the economic downward spiral this is not surprising. My heart goes out to anyone with a job loss anywhere. Sorry to hear this.

[tracibell]

I wasn't surprised either. As others have posted, with the current economy you could put almost any business name in that article.

I work for a public company myself. We were notified of a required "vacation" during the week of Thanksgiving and the week of Christmas. Luckily I have enough vacation to take but others are having to "borrow" vacation days. I think we are just thankful that it is just a vacation and not permanent.

My wishes go out to everyone that is facing hard times due to the economy... Disney personnel as well and those employed elsewhere... pixie dust to you all.

[WDWdriver]

Many seasonal CMs are getting zero hours right now, while part timers get maybe two shifts a week. College Program kids are working 40 hours plus because they are the lowest paid, and they receive no benefits. There are rumors of a 5000+ layoff of full time CMs.

[CaptainJessicaSparrow]

Many seasonal CMs are getting zero hours right now, while part timers get maybe two shifts a week. College Program kids are working 40 hours plus because they are the lowest paid, and they receive no benefits. There are rumors of a 5000+ layoff of full time CMs.

I got a whopping three days next week! I was excited! Hey, it was better than the last two weeks of zero hours!

[TheRustyScupper]

. . . There are rumors of a 5000+ layoff of full time CMs . . .

1) Who really knows?
2) But he latest rumors are
. . . 5,000 CM's from entertainment/parks/merchandise
. . . 16,000 CM's overall (hourly, office, techinical, professional)
3) I haven't heard anything about managerial or College Program layoffs.

[countrycharmer]

I have several close friends who work for Disney in different capacities, and all are feeling this. Two have been completely removed from schedules with zero hours until further notice, three have been cut from f/t to p/t and the other two are chewing their nails.

[Tekneek]

I hope they don't just single out those at the bottom of the totem pole and, instead, will actually find management to toss overboard. If you have to reduce costs, and job cuts are your method of doing so, you should look long and hard at those employees who cost you the most rather than those who are least connected politically within the organization.

[Figaro]

1) Who really knows?
2) But he latest rumors are
. . . 5,000 CM's from entertainment/parks/merchandise
. . . 16,000 CM's overall (hourly, office, techinical, professional)
3) I haven't heard anything about managerial or College Program layoffs.

WOW... I'm in shock. I'd of never expected that many. Is it going to be the "last in, first out" deal with to who gets the axe? Is this number also spread out across the entire company? or just the FL parks?

[countrycharmer]

Of those mentioned in my earlier post, three have been employees for more than 13 years, 11 years and 10 years respectively!

Here where my husband and I work for a municipality that was more than two million short and unable to certify free cash, MANY job cuts have been made regardless of tenure, etc., as elementary educator, three schools closed and were merged into remaining ones, causing plenty of us to lose our jobs and where my husband is working on municipal side his job has been financially cut and could be completely replaced with "contracted" out services, so nobody is safe right now!!

[joanna71985]

Many seasonal CMs are getting zero hours right now, while part timers get maybe two shifts a week. College Program kids are working 40 hours plus because they are the lowest paid, and they receive no benefits. There are rumors of a 5000+ layoff of full time CMs.

That is really sad. No wonder everyone hates the CPs.

[CaptainJessicaSparrow]

My biggest problem is the hours for the CPs. The Entertainment CPs are pretty good about their roles - the best I've seen out of all the locations I've worked so they aren't a problem to me or my work environment.

[joanna71985]

My biggest problem is the hours for the CPs. The Entertainment CPs are pretty good about their roles - the best I've seen out of all the locations I've worked so they aren't a problem to me or my work environment.

I have loved everyone I have worked with in entertainment. The people there are great. I can't wait to come back down (hopefully in May).

[laward32]

I am doing my Senior Project for my Bachelors degree right now on Walt Disney Co. and their 3rd quarter revenue was up for every department except Disney studios. Parks & resorts and consumer products were up the most. They are releasing the 4th quarter today. I would think they would only cut jobs if they were losing money not making it.

[WDWdriver]

I would think they would only cut jobs if they were losing money not making it.

Revenue is important, but so is the stock price. Disney stock is down to $23 a share, so the execs are under a lot of pressure to reduce costs and encourage investors. Layoffs are a quick way to reduce costs, but the resulting impact on customer service (The "Disney Magic") can be catastrophic. They are walking a fine line here.