INSIDER
Disney to lay off 28,000 at its parks in California, Florida
Read full article: Disney to lay off 28,000 at its parks in California, FloridaORLANDO, Fla. – Squeezed by limits on attendance at its theme parks and other restrictions due to the pandemic, The Walt Disney Co. said Tuesday it planned to lay off 28,000 workers in its parks division in California and Florida. Two-thirds of the planned layoffs involve part-time workers but they ranged from salaried employees to hourly workers, Disney officials said. The Florida parks reopened this summer, but the California parks have yet to reopen as the company awaits guidance from the state of California. Disney officials didn't offer a breakdown of the layoffs between the Florida and California operations. Walt Disney World in Florida has around 77,000 employees, while the Disneyland Resort in California has more than 30,000 workers.
In case you missed it: Disney’s Splash Mountain to be re-themed to ‘Princess and the Frog’
Read full article: In case you missed it: Disney’s Splash Mountain to be re-themed to ‘Princess and the Frog’It’s transformation central at Disney Parks in the U.S., as Disney officially announced that it has big plans for Splash Mountain at Walt Disney World and Disneyland. MORE: Petition calls for Disney Parks to change theme of Splash MountainIf you haven’t heard of the film, you’re not alone. If you’re unfamiliar with Splash Mountain, here’s a little background. Splash Mountain follows happy-go-lucky Br’er Rabbit as he looks for his “laughing place.” All the while, Br’er Bear and Br’er Fox are in hot pursuit of Br’er Rabbit. “Many adults and children ride this attraction because it brings back childhood memories,” the “Keep Splash Mountain” petition said.
Passengers stranded on Disney World's Skyliner gondola for hours
Read full article: Passengers stranded on Disney World's Skyliner gondola for hoursIn this handout photo provided by Disney Parks, the U.S. Navy Flight Demonstration Squadron, the Blue Angels, streak across the skies above Cinderella Castle at Walt Disney World Resort in Lake Buena Vista, Florida. ORLANDO, Florida (CNN) - Walt Disney World lost a bit of its magic for visitors who spent Saturday night stranded on the theme park's new Skyliner gondola. Emmie Palmer said she and a friend were stranded about three stories high along with three other woman in a gondola cabin. "Evacuating two people at a time off of the Disney World Skyliner... could be very slow with 10 capacity gondolas," Murray tweeted along with photos of rescuers working. Passengers who were stranded were compensated with free park tickets and gift cards, Palmer and Cole said.
Despite exciting quarter, Disney misses Wall Street expectations
Read full article: Despite exciting quarter, Disney misses Wall Street expectations(CNN) - Despite a quarter full of excitement, Disney's revenue for the three months ending in June was lower than Wall Street expected. Disney posted $20.2 billion in sales for the quarter, compared to analysts' projection of $21.4 billion, the company announced after market close Tuesday. Despite missing analyst expectations, sales in the quarter were up 33% from the same period last year, thanks to wins for the company in its studio entertainment and media networks businesses. Those movies and others helped Disney set a record for the highest grossing year for a film studio ever, an achievement announced last week, just seven months into the year. That deal helped beef up Disney's streaming lineup ahead of the planned launch of its streaming service, Disney+, and also gave it a majority ownership stake in Hulu.