Hong Kong Disneyland cuts staffing and suffers first loss in 5 years!

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Hong Kong Disneyland recently had to cut jobs due to its first loss in four years. In the year that ending in early October Disneyland posted a loss of HK$148 million ($19 million). This is the first loss since 2011, which is mostly due to a weaker economy on mainland China and politician uproar in Hong Kong. Hong Kong Disneyland attendance fell 9% to 6.8 million guests in 2015 since last year.

Hong Kong Disneyland employed more than 5,300 full timers and 2,500 part timers last year however had to let close to 100 people go due to the loss. On Friday Disney said they have to evaluate operational needs from time to time and in a statement:

“It is important for the company to maintain a solid foundation for sustainable, long-term growth. We regularly make operational adjustments to ensure we deliver great guest and cast experiences in the most efficient way possible, in order to pave the way for future development.”

However this loss has not stopped the company from investing in the new attractions such as Iron Man Experience which is set to open in May of 2016 and the third hotel, Explorer Lodge which is expected to open in June 2017.

It seems as though Hong Kong Disneyland’s biggest competition will most likely come from Disney itself as the first mainland China Disney theme park, Shanghai Disney will be opening in June. This park will not only be newer but three times the size of the one currently in Hong Kong.

How do you think Shanghai Disney opening will effect Hong Kong Disneyland? Comment below! 

Photo credit: Hong Kong Disneyland facebook 

Hong Kong Disneyland cuts staffing and suffers first loss in 5 years! 1

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