Disney to stop paying 100k employees as cost-saving measure

[left-of-center2012]

Disney will stop paying 100,000 employees this week as a cost-saving measure during the pandemic, the Financial Times reported Sunday. The largest entertainment company in the world expects to save $500 million a month as its parks and hotels have been shut down in Europe and the U.S. for nearly five weeks.

Disney staff will have to depend on state benefits for support as the company keeps executive bonus schemes and a $1.5 billion dividend payment, the Times reported.

Last year, Disney made $7 billion from its parks, experiences and products, amounting to almost half of its operating profits. The company’s shares have decreased about a quarter since the coronavirus outbreak began.

The Hill has reached out to Disney for comment.

https://thehill.com/policy/finance/493578-disney-to-stop-paying-100k-employees-as-cost-saving-measure-report

[marble falls]

1. Fuck that greedy, heartless mouse.

[kimbutgar]

2. I was in Disneyland the last day before it closed

The employees were so scared. Everything in Disneyland was so friggin expensive, a simple cotton t-shirt Was $21.95 which might have cost them $1.00 to manufacture. I hadn’t been in years and this was for my husbands 60th birthday. A bottle of water was $4.50 they can afford to pay their employees at least 1/2 their salaries during this time.