by Ray Keating
News
DisneyBizJournal.com
September 18, 2020
The Orlando Sentinel is reporting that the Walt Disney World Swan and Dolphin Resort – a Marriott property – is laying off 1,100 employees due to low occupancy and cancelled events.
The Sentinel noted:
Even though all Orlando’s theme parks are open, September has been a brutal time for the industry as thousands of employees have recently been let go or placed on indefinite furloughs.
New notices filed this week showed 5,400 Universal employees are furloughed and 1,900 employees at SeaWorld’s Orlando properties are now permanently laid off after being furloughed since March.
It also was reported that the 1,136 layoffs would be “permanent and effective Nov. 13.”
The “leisure and hospitality” sector has been particularly brutalized during this pandemic economy. According to U.S. Bureau of Labor Statistics data, total nonfarm private payroll employment declined by 9.76 million from August 2019 to August 2020, and 4 million of those losses came in the leisure and hospitality area. So, while leisure and hospitality accounted for about 13 percent of private payrolls, it has made up more than 40 percent of lost employment.
The Sentinel pointed out, “The Swan and Dolphin warned the economic impact will carry over into 2021.”
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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at raykeating@keatingreports.com.
Also, get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.
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