Quote:
Originally Posted by blueash
Disney recently furloughed about 100,000 salaried employees which saves the corporation abt $500,000,000 [corrected] per month. They are continuing to cover health insurance. They wrote to their employees to be sure to apply for the federal program giving them $600/wk in extra unemployment and Florida benefits of $275/wk.
Here is the reason for my post. In July Disney is scheduled to pay it shareholders $1,500,000,000 in dividends. That would cover 3 months of salary to its employees and save you the taxpayer of FL and USA from assuming the cost. If the 500,000,000 [corrected] per month is the savings to Disney, that would also then include Disney's employer contribution to Social Security, Medicare, and the state Unemployment Fund. So these programs are being non-funded by paying stockholders instead of workers.
It seems that the shareholders who invest expecting a share of the profit of the corporation would be expected to take a hit when the corporation does poorly. Why isn't Disney cancelling the July dividend and instead using that money to pay its workers.
Carnival cruise has cancelled its dividend. It can be done. |
So are you a former Disney executive ? A Former (surely not current) Disney Stockholder ? Are you an expert in their HR Policies ? understand what they have already done for their employees ? Do you know the difference between a layoff and a furlough ? OF course you realize that they have ZERO current income from the theme parks. You didn't mention that Disney will continue to pay ALL health insurance costs, including that normally paid by the employee. . BTW, Disney stock is down 30% YTD and 26% down for the past year. Is that not enough of a "hit" for a stockholder to take ?? Disney, like other listed corporations, is owned by the stockholders, and corporate responsibility requires a balance between them and the employees .. Seems to me given the severity of the situation, they are doing a decent job.