The Corona Crisis has hit each and every sector of the economy badly. All the sectors like Corporate, Social Responsibility and Film Studios have come to a standstill completely.
Further bad news for the Movie marketing Giant, Disney awaits. Staffs at Marvel, Pixar and Lucas film have been ordered to go on an indefinite leave.
What impact has Corona had on Disney?
Due to the Coronavirus crisis, all shooting activities of Disney have come to a close. The major departments like Marketing and Financing are still in operation to this moment. All movie releases have been postponed for an indefinite period of time.
Till 18th April, most of the staff were still in operation. Some of the working members were also on paid leave and medical benefits of the company. However Disney decided that the mounting fixed costs they had to pay were becoming a challenge for them. Thus they decided to furlough staff at Marvel, Pixar and Lucas film. These people would however receive all kinds of medical compensation and benefits.
When Will the Furlough Be Lifted?
There is absolutely no timeline for the furlough to be lifted in recent future. Corona has already affected around 20,00,000 lakh people and claimed more than 1,00,000 lives all across the globe. Financial, Economic and other Ecological impacts of the virus are better left unsaid.
Thus in such a crucial juncture for the survival of humanity, furlough on the staff seems to fade in significance. It is highly unlikely that the stay order would be lifted anytime before September, up until which the staffs have to stay and home and not even get paid for it.
What steps have Disney taken during the crisis?
Disney Studios quite judiciously realized that they will not be able to release the scheduled movies on time. Some of them were big budget thrillers like The New Mutants, Black Widow and Mulan, for whom fans had been waiting for years.
In order to give something back to these fans they started broadcasting movies and TV series on Disney Hotstar. Sports Documentaries were also being showed on the Disney ESPN sports channel. Other sports archive videos on cricket, football, golf, tennis and hockey were also being broadcasted.