Crucial quote: “Things are really looking bad. The economy is going to take time to recover, ”University of Florida economics professor Hector Sandoval told The Orlando Sentinel ( about the Disney furloughs.
Key background: The initial closings of (Disney World) in Orlando, Florida and (Disneyland. in Anaheim, California were only meant to last until the end of March – but about two weeks ago, it was announced the parks will stay closed until further notice, according to a Disney statement , “in line with direction provided by health experts and government officials,” as the coronavirus pandemic continued to spread. At the time, Disney sa id they would continue paying hourly employees working at parks and resorts through mid-April.
Tangent: Universal Orlando and SeaWorld Orlando, Disney’s rivals, also closed their gates in March out of fear of the coronavirus, with SeaWorld reporting it had furlored (% of employees) across its (parks )
What to watch for: (A) domino effect in Central Florida. With Walt Disney World’s massive operations, their closure and furlough means less business for smaller groups that rely on the entertainment giant, like restaurants, hotels and car rental companies in the area.