More CM Layoffs Looming?

[CaptHomer]

Segment profit at the theme parks and resorts in the third quarter fell 19% to $521 million, as revenue fell 9% to $2.75 billion. The unit was affected by decreased guest spending at Walt Disney World, greater costs at Disney Vacation Club and a decline in revenue at Disneyland Paris.

Reservations at the company's theme parks and resorts are "up slightly" compared to last year at this time, Staggs said.

The quarter includes an extra week in 2009 on Disney's fiscal calendar. Excluding that week, bookings are running about 7% lower than the same period in 2008

Bookings are only 7% lower but they are giving away 42% of their nights. Might explain why revenue is down 9%.

I am sure most companies would wish their revenue was down only 9%. Ask GM or Chrysler how they would like it.

I guess Disney is going to make up the 9% by raising ticket prices today.

 

[Sir Robin Hood]

I hope all this talk of more layoffs is just a nasty rumor.

It's sounding more and more like it is just a rumor. The people I know who live in Orange Co. don't even work for Disney, but hear the gossip through news & other residents. That's why I started this thread to see if anyone who actually works for Disney had been hearing mumblings of the same kind, and if there was any need to worry or not.

The Villages are HUGE, and constantly hiring new employees due to the growing number of retiring baby boomers. I still don't see their labor pool passing WDW's numbers, but that is what the grapevine suggests. Perhaps this year while tourism is down, but in the long run WDW will bounce back as the top employer of the area. (Hopefully)
My economics professor (who, in 2006 predicted this mess we have now) says to hold on & grind your teeth now, but expect light at the end of the tunnel 'cause a rebound is coming.

 

[TheRustyScupper]

1) Layoff rumors are just rumors.
2) They are not announced too far in advance.
3) We need to wait and see.
4) As for The Villages, they do not employ 55,000 people!

 

[princess63]

It's sounding more and more like it is just a rumor. The people I know who live in Orange Co. don't even work for Disney, but hear the gossip through news & other residents. That's why I started this thread to see if anyone who actually works for Disney had been hearing mumblings of the same kind, and if there was any need to worry or not.

The Villages are HUGE, and constantly hiring new employees due to the growing number of retiring baby boomers. I still don't see their labor pool passing WDW's numbers, but that is what the grapevine suggests. Perhaps this year while tourism is down, but in the long run WDW will bounce back as the top employer of the area. (Hopefully)
My economics professor (who, in 2006 predicted this mess we have now) says to hold on & grind your teeth now, but expect light at the end of the tunnel 'cause a rebound is coming.

I'm glad to hear that this is probably just gossip. I always try my best to be optimistic, but it's tough sometimes.

Did your prof. have any predictions about when we'd be getting out of this economic mess? I know it took awhile to get into it, and I'm sure it'll take some time to get back out.

 

[DVC Tina]

I wouldn't worry about the Disney layoff's until they actually happen, if they happen.

Incidentally, perhaps nobody just hands this guy a check on Fridays, I suspect this person actually works for his pay.

Couldn't agree more with this statement.