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Effects of Coronavirus (COVID-19) On Entertainment & Tourism Industry

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I know an imagineer who has been furloughed. Obviously may not be ALL imagineers but I do know one so it’s definitely true to an extent. Very sad as he got the job within the last year and completed school and everything. Literally so sad.

edit: they were working at Disney Springs as well and not the parks, if that matters whatsoever. No more specifics as to not out this person lol.
 
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Disneyhead said:
The fact that Disney has furloughed Imagineering is a big red flag. While Disney is a huge company with massive amounts of money flowing through it. They are also a company with huge CapEx going on. Along with a huge amount recently acquired debt with the FOX acquisition. ESPN was losing money before this happened. The Parks are bleeding money by being shuttered. And the Studios revenue stream dried up while sunk production costs stack up.

The most genius move by Bob Iger as CEO was deciding to cut and run when he did. I'm wondering if he got an honest heads up about what was coming from the Chinese Gov't.?
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He stepped down in that time frame that the Senate Intelligence committee chairman (his stock trustees sold off his and his wife's stock portfolio) had that private meeting with business leaders and tipped them off about the severity of the coming crisis. I would bet what happened at that meeting reverberated around the executive business community quickly. The timing (Iger's) is uncanny and I doubt it was coincidental.
 
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Mad Dog said:
He stepped down in that time frame that the Senate Intelligence committee chairman (his stock trustees sold off his and his wife's stock portfolio) had that private meeting with business leaders and tipped them off about the severity of the coming crisis. I would bet what happened at that meeting reverberated around the executive business community quickly. The timing (Iger's) is uncanny and I doubt it was coincidental.
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Cause why worn the public of this when business people can sell of their stocks. AH, America!!!
 
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Can’t see the tweet obviously but I’m not surprised about Imagineering honestly - if the line is drawn at essential/non-essential, work has stopped on most projects and they’re almost exclusively project or portfolio focused.

Their project managers can’t manage his/her project managers if there are no project meetings going on.
 
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I'm wondering if, when all this downtime is over and done with, that Disney greatly downgrades their Imagineering division and does like UC , vendor most of the work out. Disney made some management changes a couple of years ago to get their costs down, but evidently it didn't work since Disney projects seem to continue to cost so much more than they need to.
 
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HandsomePete said:
Can’t see the tweet obviously but I’m not surprised about Imagineering honestly - if the line is drawn at essential/non-essential, work has stopped on most projects and they’re almost exclusively project or portfolio focused.

Their project managers can’t manage his/her project managers if there are no project meetings going on.
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Why couldn't they do a lot of that work remotely? I would think imagineering would be one of the best places for that.
 
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Universal Studios Japan has once again extended the closure of the park due to Coronavirus, now closing through "the middle of May", and will continue to reassess the situation to determine a definite opening date at a later time.

www.insideuniversal.net

Updates on Coronavirus and Universal Parks & Resorts

EDITOR'S NOTE: Inside Universal remains dedicated to presenting a fact-based, non-sensationalist driven perspective aimed at educating and informing our readers. As Editor-in-Chief, I was hesitant to broach the topic of Coronavirus (COVID-19), as I did not want to come across as "adding to the hyste
www.insideuniversal.net www.insideuniversal.net
 
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JoeCamel said:
Why couldn't they do a lot of that work remotely? I would think imagineering would be one of the best places for that.
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If you’ve halted construction on a project to postpone cash flows, you’re not running into roadblocks that need to be addressed. If something is still in design, WDI labor *is* the project cash flow. It’s not about the ability to work remote, my understanding is the furlough is based on the necessity to continue to work.

Mad Dog said:
I'm wondering if, when all this downtime is over and done with, that Disney greatly downgrades their Imagineering division and does like UC , vendor most of the work out. Disney made some management changes a couple of years ago to get their costs down, but evidently it didn't work since Disney projects seem to continue to cost so much more than they need to.
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One could write a book - and not a boring book - about all the reasons why Disney’s quoted build costs are out of whack.

Edit: sorry, forgot what thread this was and I’m starting to drift.
 
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Also from UOTeam

Second, we are facing months of closure with no way to accurately predict when we will reopen. No business, even one as strong as ours, can sustain this without having to make difficult choices.

Here is what we are going to do:

  • We will continue to pay our team members at 100 percent through April 19
  • Effective April 20, nearly all of us – executives, front-of-house, back-of-house, salaried and hourly, will be paid at 80 percent – and we will ask everyone to adjust their work accordingly. There will be limited exceptions, with some team members being specifically asked to continue working at 100 percent and continuing to be paid at that level. Your benefits will remain unchanged and continue in full. If you have vacation time or PTO, you can use this to supplement your income during this time. This is temporary, of course, until we are through this.
  • We have made the difficult decision to furlough our part-time hourly team members effective May 3. We are delaying the furlough so these team members have time to plan – and collect 80 percent of their average hours until then. Part-time hourly team members who participate in a benefits plan will continue to be enrolled in their plan, with the company paying weekly contributions on their behalf.
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