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Walt Disney executives tore California officials apart Thursday for failing to allow Disneyland to reopen, citing a $ 600 million loss for the company’s fourth quarter.
“We are very disappointed that the state of California continues to keep Disneyland closed,” said Bob Chapek, CEO of Disney, calling the California pandemic guidelines “arbitrary,” USA Today reported.
His remarks were made during an investor presentation Thursday by Disney CEO and CFO Christine McCarthy, who said Disneyland would not open until the end of the year.
Chapek noted that the company has been able to safely reopen parks, including Disney World in Orlando, Florida.
A group of California mayors wrote a letter to the government. Gavin Newsom
Latino group Gavin NewsomTop calls on Padilla to replace Harris’ Senate. Hill’s Morning report – ObamaCare in the foreground; Transition deadlock continues Pressure increases on California governor to appoint Harris replacement PLUS (D) earlier this month, asking for more flexible guidelines for theme parks like Universal Studios and Disneyland so they can reopen sooner.
The mayors raised concerns such as layoffs that could arise if the lockdowns continue. Disney laid off 28,000 employees in California and Florida.
As cold and flu season approaches, officials in populated areas such as Los Angeles are in talks to tighten restrictions on the pandemic, the Los Angeles Times reported.
Los Angeles County now recommends anyone traveling for the holidays to self-quarantine for 14 days upon return, although authorities strongly discourage Thanksgiving travel.
With minimal park capacity and cruise operations largely closed, Disney reported a loss of nearly $ 580 million for the fourth quarter and a loss of $ 1.7 billion for the full year.
Still, the fourth-quarter losses would have been offset by streaming service Disney Plus, which reached 73 million subscribers.
“It has been a year like no other in our lives, and certainly in the history of Walt Disney Co.,” Chapek said.
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