Name: Walt Disney Will Furlough 43,000 Disney World Workers, Providing Full Health Benefits for 12 Months | The Motley Fool
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Walt Disney Will Furlough 43,000 Disney World Workers, Providing Full Health Benefits for 12 Months | The Motley Fool

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By-Updated Apr 11, 2020 at 11:36PMYou’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.Market Cap$212BToday's Change(-3.98%)&nbsp;-$4.63Current&nbsp;Price$111.76Price as of September 13, 2022, 4:00 p.m. ETThe Walt Disney Company reached a deal with some of its largest workers' unions on Saturday, allowing the company to furlough another 43,000 Disney World employees from April 19 to the reopening of its theme parks.The announcement was made by a coalition of six Disney unions, collectively known as Unite Here Central Florida, in the form of a live video stream. Union leader Eric Clinton called the agreement an "exciting victory" and "one of the best in the nation."Under this deal, Disney will furlough 43,000 theme park workers on April 19. Workers will immediately become eligible for unemployment benefits from the State of Florida along with 12 months of full healthcare coverage at no cost to the employee. They will also continue to collect hours of credit toward pension eligibility and next year's healthcare benefits as if they had continued their ordinary work schedule.Analyst firm JPMorgan Chase had suggested that Disney could by furloughing most of its theme park employees during , but the company provided full salaries to its full-time employees until April 18. Temporary workers and third-party staff were furloughed or let go in mid-March, and during the coronavirus park closures and movie-production halts.The Orlando Sentinel newspaper estimates that this action alone will nearly triple the unemployment rate in metro Orlando from 2.9% to 8.5%, reflecting the House of Mouse's outsize role in the local economy. The agreement is similar to a deal Disney struck with 10 Californian unions on Friday, furloughing another 28,000 Disneyland employees on April 19.*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.Market-beating stocks from our award-winning analyst team.Stock Advisor Returns374%&nbsp;S&amp;P 500 Returns121%Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/13/2022.Discounted offers are only available to new members. Stock Advisor list price is $199 per year.Cumulative Growth of a $10,000 Investment in Stock AdvisorCalculated by Time-Weighted Return since 2002. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns.Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.Current

By-Updated Apr 11, 2020 at 11:36PMYou’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.Market Cap$212BToday's Change(-3.98%)&nbsp;-$4.63Current&nbsp;Price$111.76Price as of September 13, 2022, 4:00 p.m. ETThe Walt Disney Company reached a deal with some of its largest workers' unions on Saturday, allowing the company to furlough another 43,000 Disney World employees from April 19 to the...

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Walt Disney Will Furlough 43,000 Disney World Workers, Providing Full Health Benefits for 12 Months | The Motley Fool

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