Universal to cut 70 jobs pronto
Increasing economic fears cause Universal to cut 70 jobs out of it's 13,000 employee workforce. Theme park attendance continues to be a growing concern at Orlando's theme parks.
Mostly management, administrative, and support jobs will be getting the axe for the first round before Universal considers it's service workforce.
As a part of positioning the companies portfolio, it feels that it is an important decision for its future said spokesman Tom Schroder. Universal is in the process of helping those terminated employees with their transition.
The impeccable timing of these layoffs came on the heels 24 hours after its rival Disney announced buyouts for 619 top level executives which includes 313 constituents in Orlando. Layoffs are forthcoming.
Since the nationwide drop in consumer confidence, park attendance at Universal fell 2% for the fiscal fourth quarter with signs of continued industry deterioration.
One historic sign of concern regarding Universal balance sheet occurred when it announced that it would charge for it's parking garage increasing the fee to $3 for the evening.
Order booking, advanced trips, ticket sales are all down for Universal and other theme parks in Orlando.
On going forward, parks need to be careful what they cut including car rides, fewer tables at restaurants, service staff, because these all can affect the experience that entices guests to come in the first place.
Nevertheless, Universal is displaying it's re silence by going forward with its to announced rides Hollywood Rip Ride, and The Wizarding World of Harry Potter opening at Islands of Adventure.
Mostly management, administrative, and support jobs will be getting the axe for the first round before Universal considers it's service workforce.
As a part of positioning the companies portfolio, it feels that it is an important decision for its future said spokesman Tom Schroder. Universal is in the process of helping those terminated employees with their transition.
The impeccable timing of these layoffs came on the heels 24 hours after its rival Disney announced buyouts for 619 top level executives which includes 313 constituents in Orlando. Layoffs are forthcoming.
Since the nationwide drop in consumer confidence, park attendance at Universal fell 2% for the fiscal fourth quarter with signs of continued industry deterioration.
One historic sign of concern regarding Universal balance sheet occurred when it announced that it would charge for it's parking garage increasing the fee to $3 for the evening.
Order booking, advanced trips, ticket sales are all down for Universal and other theme parks in Orlando.
On going forward, parks need to be careful what they cut including car rides, fewer tables at restaurants, service staff, because these all can affect the experience that entices guests to come in the first place.
Nevertheless, Universal is displaying it's re silence by going forward with its to announced rides Hollywood Rip Ride, and The Wizarding World of Harry Potter opening at Islands of Adventure.
posted by michael at
8:59 AM
