Disney Could Save Money by Furloughing Cast Members

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Disney parks around the world are closed during the Coronavirus outbreak and there is speculation if the U.S. parks will reopen next month. A JP Morgan report has come out suggesting that Disney could save $500 million by furloughing cast members for the month of April.

The Walt Disney Co. announced that during the closures of the Disneyland, Disney World and Disneyland Paris resorts through the end of March that it would continue to pay cast members. Disney employs 77,000 cast members at the Disney World resort, 31,000 at the Disneyland resort and 17,000 at the Disneyland Paris resort.

The report released also anticipates the closure of the U.S Disney theme parks could extend until May 1st. Tokyo Disneyland just announced that they are extending their closure.

J.P.Morgan analysts anticipate the closure of the Disneyland, Disney World and Disneyland Paris resorts through May 1 could have a $1 billion negative impact assuming Disney furloughs some employees for the month of April amounting to $500 million in cost savings.

There still hasn’t been any official word from Disney if they will extend the closures of the U.S theme parks and Disneyland Paris. We will update as information is released!

Source


Sara