Disney slips into crisis, sending 100,000 employees on holiday

With the new streaming service, entertainment giant Disney has been swimming in the media success wave for weeks and months. However, the success of Disney + masked the fact that the group is currently experiencing major problems.

Disney includes Marvel, Star Wars and, of course, Disney +, which are synonymous with success. But it also has amusement parks that are currently closed and films that cannot be shown. The most important thing is: the huge debt is as high as 38 billion US dollars.

Disney faces a corona crisis

In other words, Disney is currently in trouble, which of course is related to the current crisis. However, the coronavirus is not the only reason. Its origin lies in Disney’s aggressive process. With this growth strategy, the organization could have gotten rid of its predicament. But the coronavirus crisis has exposed its risks relentlessly.

For example, according to the British Financial Times, Disney had to declare that it must send 100,000 employees to take mandatory holidays. Which accounts for about half of its total employees, most of whom work in the currently closed theme parks and connected hotels. Mickey Mouse Group hopes to save $ 500 million per month. However, the Financial Times believes that Disney ’s performance is tougher here than you would have to and fear that it will damage your image.

FT

The Mountain of Debt is the culprit

The fact that the reduction caused by the corona crisis is so large. It is attributed to the huge debt of $ 38 billion. This is so large due to the acquisitions made in previous years. Especially in the past year, the acquisition of 21st Century Fox has been greatly reduced. After a bidding war with Comcast, It had to pay more than originally planned. And a total of $ 71 billion was transferred to Rupert Murdoch’s News Corporation.

Disney had to declare that it must send 100,000 employees to take mandatory holidays. Disney is currently in trouble, which of course is related to the current crisis. However, the coronavirus is not the only reason. Its origin lies in Disney’s aggressive process. With this growth strategy, the organization could have gotten rid of its predicament. But the coronavirus crisis has exposed its risks relentlessly.

For Disney and its employees, the next few months may be difficult. Because Disneyland and Co. are not expected to resume operations soon. Experts expect that the park will reopen as early 2021.

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Disney includes Marvel, Star Wars and, of course, Disney +, which are synonymous with success. But Disney also has amusement parks that are currently closed and films that cannot be shown. The most important thing is: the huge debt is as high as 38 billion US dollars.

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