Thousands of layoffs due to the Coronavirus. The impact of the pandemic crisis on the world economy is beginning to manifest itself in all its gravity and extends to employment. One after the other, two international giants have announced their intention to cut jobs. The first is Disney, grappling with a profound crisis that is affecting amusement parks above all, the second is Shell which adds the collapse in oil demand and the revolution that is affecting the oil sector to the Covid-19 effect, intending to turn towards cleaner fuels.
DISNEY
The first giant to announce a cut to the workforce was Disney which will cut 28 thousand jobs in the United States between amusement parks, events and merchandising. According to CNBC, about two-thirds of the employees facing the layoff are part-time workers, but it was not specified which theme parks will be affected by this measure and to what extent. It should be emphasized that the parks segment until last year represented 37% of the company's total revenues.
The decision comes following "the sustained impact of Covid-19 on our business, including capacity reductions on sites, related to physical distancing, and uncertainties about the duration of the pandemic," the group explained in a press release.
The Mickey Mouse company closed a quarter in the red for the first time since 2001. In the third quarter of the fiscal year, the loss was almost 5 billion euros, while revenues fell 42% to 11,78 billion dollars. From April to June, parks revenue fell 85% year-over-year to $983 million.
SHELL
Anglo-Dutch oil giant Royal Dutch Shell has announced it will cut 7.000-9.000 jobs out of 83 by 2022. The layoffs include 1.500 people leaving the company voluntarily and not only stemming from the crisis triggered by the Covid-19 pandemic , but also by the revolution that has been affecting the oil sector in recent years. In fact, Shell points out that the outflows are part of a restructuring work stimulated by the pandemic, but also the result of an internal reorganization that intends to push towards cleaner fuels and provides for a cut in costs that will lead to annual savings of up to 2,5 billion in the next two years.
“A large part of the cost savings for Shell will come from fewer people. - He said the CEO Van Beurden – We have closely examined how we are organized and we believe that, in many places, we have too many layers in the company: too many layers between me, as CEO, and the operators and technicians of our sites”.
In recent months, Shell has scrutinized all of its businesses to increase its degree of financial resilience, but also to better prepare for the transition to low-carbon energy companies.
Due to the collapse in global oil demand, first quarter net income fell 46%, while second quarter income was 82% lower than last year.
Meanwhile in our country, Shell Italia has announced the launch of the training and connection program with the business world "Shell Invent YOUTH”: in Basilicata the program has reached its 11th edition and this year includes two innovations: a new format for training and tutoring and new requirements for participants. Furthermore, this year the program has also landed in Puglia with the launch of the 1st edition in Taranto and its province. In these first 10 years of experience, Shell InventaGiovani has launched 16 entrepreneurial activities, supported 15 youth businesses, helping them to expand and offered training to 800 young people in the area.
Here are the new requirements for participants:
- Minimum age: 18 years (there is no longer a maximum age for participants) Domicile in Basilicata/Taranto and province
- Higher Secondary School Diploma
- Access to the program by completing a special application form on the website www.inventagiovani.it
