After a shutdown because of the coronavirus, fireworks fill the sky for the first time in 15 months at the Magic Kingdom at Walt Disney World Thursday, July 1, 2021, in Lake Buena Vista, Fla. (AP Photo/John Raoux)
After a shutdown because of the coronavirus, fireworks fill the sky for the first time in 15 months at the Magic Kingdom at Walt Disney World Thursday, July 1, 2021, in Lake Buena Vista, Fla. (AP Photo/John Raoux)
After a shutdown because of the coronavirus, fireworks fill the sky for the first time in 15 months at the Magic Kingdom at Walt Disney World Thursday, July 1, 2021, in Lake Buena Vista, Fla. (AP Photo/John Raoux)ORLANDO, Fla. (AP) — The Walt Disney Co. said Thursday it planned to build a new regional campus in central Florida to house at least 2,000 professional employees who will be relocating from Southern California to work in digital technology, finance and product development.
In a letter to employees, Josh D'Amaro, chairman of Disney Parks, Experiences and Products, said the move would allow creative and business teams to be better integrated. The company already has a theme park resort, Walt Disney World, that is the size of the city of San Francisco, located outside Orlando, Florida.
The new Disney campus will be located about 20 miles (32 kilometers) to the east of Disney World, in a neighborhood by Orlando International Airport.
“Florida is known for its rich culture of hospitality and active lifestyle as well as a lower cost of living with no state income tax," D'Amaro said in the employee letter.
While the California-based company is still figuring out which employees will be asked to relocate, they likely will be those in the parks division who aren't working full-time at Disneyland in California or in the international parks business. Workers asked to relocate will have 18 months to make the move, D'Amaro said.
“As someone who has moved with my family from California to Florida and back again, I understand that relocation is a big change, not only for the employee, but also for their families," D'Amaro said.
___
Follow Mike Schneider on Twitter at https://twitter.com/MikeSchneiderAP
Before you consider Walt Disney, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Walt Disney wasn't on the list.
While Walt Disney currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for May 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
