Disney has announced it is offering buyouts to 600 of it’s managers nationwide in an effort to cut costs at it’s various parks following the worldwide recession. If enough managers don’t accept the deal, layoffs will begin to thin the herd. I’m surprised it took this long for the theme park operator to make cuts even though this division out performed the rest of the company in it’s latest quarterly report.
Disney Profits Plummet
February 4, 2009 — Colione
The Walt Disney Company reported weaker than expected sales as demand weakened in several of it’s businesses including advertising, DVD sales, product licensing and lower theme park attendance. Total profit for the fiscal first quarter dropped 32% year over year.
