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After Job Cuts, Walt Disney World's No Longer the Happiest Place on Earth.
Knight Ridder/Tribune Business News, March, 2001
By Tim Barker, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Mar. 29--A somber mood settled across the Walt Disney World resort Wednesday as thousands of mid- and upper-level managers pondered what could be their last days with the company.
The Walt Disney Co. plans to cut 3 percent of its 120,000 employees worldwide -- 1,400 of the 56,000 workers in Orlando -- but the picture actually is gloomier for those targeted in a move expected to save $300 million to $400 million a year.
Most of the local employees, including the hourly folks in the parks, hotels and restaurants, have been granted immunity. That means the cuts will come from a smaller pool of 12,000 or so of the Orlando-based employees, a source familiar with the...
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