News Round Up 2020
- Thread starter rteetz
- Start date
L
"...I can tell you we have our cast members best interests top of mind..."
Guy sounds like a gem to work for. If you truly believe that then pay them instead of worrying about your stock price. You under pay to begin with.
That's above Josh's pay grade. He does not decide what cast gets paid. Josh is one that does focus on making the best with what he can do though. One of his priorities has been improving the cast experience which improving work place settings such as backstage areas and such.
Then call a spade a spade. This letter is PR spin and a waste of time.
Okay...
I for one have never heard anyone say anything negative about Josh. Cast loves him and he is routinely in the parks (when they are open) and is very hands on. Certainly not something you see much these days. Josh is president of Walt Disney World not of the theme parks altogether and not of the company, there is only so much he can do on his own.
OSUZorba
DIS Veteran
- Joined
- Sep 5, 2014
No company can afford to keep paying employees with no revenue coming in. It's not like they furloughed all the CMs then gave themselves massive bonuses, they are doing it to make sure the company survives. Disney is paying for them to all keep health insurance and because of the CARES act many of them will likely make more on unemployment than from being a CM (if I understand correctly, luckily I am not in a position to personally find out). They also gave them a month of a pay after the parks closed down.
He can speak up...thats what real leaders do, even if their ideas get shot down. Hes speaking like a company shill in that letter.
Companies that have prepared can withstand situations like these. Companies that are most interested in share price cannot.
OSUZorba
DIS Veteran
- Joined
- Sep 5, 2014
Feel free to provide a link to any company, outside of the four or five major tech companies, that could afford to pay their staff indefinitely with no incoming revenue. Most companies operate on a 15%* or less margin, so they would need 7 years of profits saved up to pay for 1 year of expenses without revenue.
*Disney was at 16.7% last year.
I do agree that companies shouldn't have been racking up debt in the good times to buy back stock and pay dividends, but even responsible companies in labor intense industries would have a hard time their staff right now.
I will agree to disagree.
- Joined
- Nov 7, 2010
Found out this morning that the Play Disney app has unlocked all of its games that are normally locked unless you are in line waiting for a ride.
My DD and I have been enjoying playing the Splash Mountain games this morning. A touch of Disney from home!
My DD and I have been enjoying playing the Splash Mountain games this morning. A touch of Disney from home!
dclpluto
DIS Veteran
- Joined
- May 11, 2012
yep Disney was trying to do the right thing by paying them for a month but ever since beginning of April most cast members could of made more money being unemployed. Hopefully the cast members will keep the extra money and not spend it. Cares act ends July 31 Disney Parks probably will still be closed. Florida and California has very poor unemployment pay.
Sweettears
60 years of Disney fandom and counting
- Joined
- Sep 17, 2010
I would be interested to see a link that describes how any corporation not only anticipated this but was totally prepared to handle the outcome. Pretty amazing assumption.
So you won't compalin when park tickets, food, and hotel prices are raised to cover those pay increases????
https://finance.yahoo.com/m/86a3aec4-78c8-3b06-8f4e-d572a36f9308/disney-stops-paying-100-000.html
I am far from a CEO apologist and some companies certainly need to suffer the consequences of the stock buyback game and never saving for a rainy day (or month or three) but the total payroll dollars are just staggering for Disney. More than $500M/per month means that even if they paid the CEO zero dollars for the last 15 years, it would not have even covered a month of payroll.
I am far from a CEO apologist and some companies certainly need to suffer the consequences of the stock buyback game and never saving for a rainy day (or month or three) but the total payroll dollars are just staggering for Disney. More than $500M/per month means that even if they paid the CEO zero dollars for the last 15 years, it would not have even covered a month of payroll.
Which is why they had to furlough. They are still giving benefits which is great for CMs. Like mentioned some CMs will likely see more money in unemployment than they would've been paid otherwise. WDW itself has over 77,000 employees.
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