Thread regarding Disney layoffs

They reduced their compensations, so what?

Ah what a news... I was surprised... (sarc.)

Disney disclosed the total compensation for its top executives in a year that saw the company hit hard by the pandemic (...)

This is an article about how their salaries decreased significantly compared to 2020: https://www.hollywoodreporter.com/news/disney-ceo-bob-chapek-bob-iger-pay-pandemic

But who cares how much the top executives are paid, because it does not change the unfavorable situation in which most of us are.

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Post ID: @OP+1908Bfjq

5 replies (most recent on top)

Bob Chapek earned $14.2 million during 2020. He didn’t cut salary at all

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Post ID: @oroi+1908Bfjq

To answer the question @1ujg+1908Bfjq asked: I had four months saved for a "rainy" period. That's all I could save ahead just a couple years out of college making $16 p/hour in a professional Disney hourly position (required a college degree). My little apartment is very moderate (less than 500 sq foot and a tiny galley kitchen), lucky I have no debt all paid off now, and I bought a used car for cash a while back. So, think about this... Many of us ex-CMs are in a very bad situation, being laid-off and looking for a professional job in a bad market (Orlando, though I'm open to move). I'm lucky I obtained a seasonal non-professional job during the holidays and I'm still on schedule a few days a week. Have a little heart!!!!! It's not like I made a lot with Disney, barely enough to sc-ape by and pay off debt from college.. So, please don't preach @1ujg+1908Bfjq.

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Post ID: @3oqe+1908Bfjq

A quick look at the balance sheet tells me they finished FY2019 with over $5 billion cash on hand, which is enough to meet pretty much all your liquidity needs unless, you know, a once in a century event forces closure of all theaters, broadway, and theme parks for months on end and destroy people's desire to go out and spend money. Comcast finished 2019 with $5.5B on hand, and Netflix $5B, Let's not even compare to the bankrupt Sea World, or the eternally out of money Six Flags. Fact of the matter is that you need a lot less people to service visitors who aren't there, and if you don't control costs, Disney really will be destroyed. Disney has a ton of positive cash flow, ever heard of Disney World and the Marvel Cinematic Universe? It pays out billions to dividend holders, of which the largest institutional holders are various retirement entities both individual and funds held by things like Teachers Unions, even after investing almost $5B in capital improvements.

Disney has plenty to weather the storm with over $17B in cash on hand now, and was forward looking in creating Disney+ which has been gangbusters. Even if parks stayed closed forever and it never made another film for wide release, Disney+ would mint money. Now, you yourself, have you been a grasshopper or ant through the previous good times? Did you keep cash on hand for possible bad weather coming? Or did you rent too much apartment, buy too much car, and buy things like iPhones so that you don't have the funds to sustain yourself through a pandemic if you lost your job?

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Post ID: @1ujg+1908Bfjq

If you see the cash flow per year, Disney ran out too much money in 2019 and the decision-maker didn't keep any cash for any possible bad weather coming. If you see other company such as Nike and Apple, they always have some cash in case the bad situation happen. The executives have made so wrong decision and burn all the cash in 2019. I am so surprised no one blames this. In fact, I am not surprised why Bob Chapek is chosen as CEO given that the low cash situation in 2019.

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Post ID: @1zih+1908Bfjq

Salary reductions save X number of jobs, and it's required to be reported by the law. Is it that hard to understand? Would you rather have them get raises?

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Post ID: @1vjf+1908Bfjq

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