Furloughs, Uncertainty Make Mood At Disney, “Dire.”
First, according to the New York Times Bob Iger is back in charge of The Walt Disney Company.
Second, despite a bounce back from a stock slump, the mood at Disney — also according to The New York Times — is dire.
And when I wrote dire I mean (and NYT explains):
“They’re covering the mirrors and ripping clothes.”
I do not know what any of that means, but it doesn’t sound too good.
However, that shouldn’t be a surprise (to anyone who has paid attention).
The Times explained:
March 13, was their last in the office. In early April, Mr. Chapek sent a bleak internal email announcing a wave of furloughs. He pushed immediate cuts and freezes on everything from development budgets to contractors’ pay.
The company employed 223,000 as of last summer, and won’t say how many workers are furloughed, but the numbers are huge. It includes more than 30,000 workers in the California resort business alone, according to the president of Workers United Local 50 that represents some of those workers, Chris Duarte. Another 43,000 workers in Florida will be furloughed, the company confirmed on Sunday. All the workers will keep their benefits, but their last paychecks come April 19.
Apparently many of those folks were displeased by the notion that they needed to leave pay on the table, too.
And, other reports mentioned the possibility that a future in the company; advancement and pay upgrades would be available only to those who toed the company line.
To those who might ask WWWDD (What Would Walt Disney Do)? There’s ample evidence he might have done much of the same.
In reality, though; it really only matters “WWBID (What will Bob Iger do)?”