Letter From Josh D’Amaro, Chairman, Disney Parks, Experience and Products to Disney Employees

LETTER TO EMPLOYEES FROM JOSH D’AMARO, CHAIRMAN, DISNEY PARKS, EXPERIENCES AND PRODUCTS (DPEP)

September 29, 2020

Team,

I write this note to you today to share some difficult decisions that we have had to make regarding our Disney Parks, Experiences, and Products organization.

Let me start with my belief that the heart and soul of our business is and always will be people. Just like all of you, I love what I do. I also love being surrounded by people who think about their roles as more than jobs, but as opportunities to be a part of something special, something different, and something truly magical.

Earlier this year, in response to the pandemic, we were forced to close our businesses around the world. Few of us could have imagined how significantly the pandemic would impact us — both at work and in our daily lives. We initially hoped that this situation would be short-lived, and that we would recover quickly and return to normal. Seven months later, we find that has not been the case. And, as a result, today we are now forced to reduce the size of our team across executive, salaried, and hourly roles.

As you can imagine, a decision of this magnitude is not easy. For the last several months, our management team has worked tirelessly to avoid having to separate anyone from the company. We’ve cut expenses, suspended capital projects, furloughed our cast members while still paying benefits, and modified our operations to run as efficiently as possible, however, we simply cannot responsibly stay fully staffed while operating at such limited capacity.

As heartbreaking as it is to take this action, this is the only feasible option we have in light of the prolonged impact of COVID-19 on our business, including limited capacity due to physical distancing requirements and the continued uncertainty regarding the duration of the pandemic.

Thank you for your dedication, patience and understanding during these difficult times. I know that these changes will be challenging. It will take time for all of us to process this information and its impact. We will be scheduling appointments with our affected salaried and non-union hourly employees over the next few days. Additionally, today we will begin the process of discussing next steps with unions. We encourage you to visit The Hub or the WDI Homepage for any support you may need.

For those who will be affected by this decision, I want to thank you for all that you have done for our company and our guests. While we don’t know when the pandemic will be behind us, we are confident in our resilience, and hope to welcome back Cast Members and employees when we can.

Most sincerely,

Josh D'Amaro Signature

Josh D’Amaro

Chairman

Disney Parks, Experiences and Products

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One Response

  1. My sympathies to all the individuals impacted by the Disney layoffs as the fault lies with the virus and not the individuals. As the loss of income will be a severe hardship concerning their major financial obligations, they need to be aware that Bank of America and Chase Bank have been filing Fraudulent Foreclosure lawsuits listing Bogus REMIC Trusts as Plaintiffs on the lawsuits. If the mortgages of the impacted employees were truly in one of these Trusts, and they missed making 3 monthly mortgage payments, their bank is required to buy their loan out of the Trust and pay a 100% tax to preserve the tax-preference status of the Trust. If the impacted employees continue to miss payments and are later sued by a Trust, the lawsuits are Fraudulent, as they can’t be sued by a Trust they’re no longer in. To be forewarned is to be forearmed. If this situation applies to you at least you have fair warning that you didn’t have before and can make preparations to defend yourselves rather not know about it and be sitting ducks without the knowledge this is going on. If you have doubts or wish to research further then research REMIC Trusts for further info.

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