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Walt Disney World may be saving a lot with recent furloughs, but how much are they losing?

The Disney theme parks recently furloughed workers, saving them $500 million a month. Reports show that the company is expected to lose around $3 billion.
Credit: AP
In this Wednesday, Jan. 15, 2020 photo, a statue of Walt Disney and Mickey Mouse is seen in front of the Cinderella Castle at the Magic Kingdom theme park at Walt Disney World in Lake Buena Vista, Fla. (AP Photo/John Raoux)

ORLANDO, Fla. —

According to the Financial Times, the Walt Disney Company is saving $500 million a month across all its theme parks and hotels by furloughing its workers.

But, how much money is the company losing though?

Until Disney releases a specific number--we don’t know. Most estimates say it is between $20 and $30 million dollars a day. So yes, the company is saving a lot with these furloughs but they are losing a lot more. 

A report from the financial research group MoffettNathanson figured the theme parks were going to lose about $3.4 billion if they stayed closed through the middle of April, which we already passed.

Back in February, Disney CEO Bob Iger told shareholders the company had lost $175 million from Shanghai and Hong Kong Disneylands being closed for eight weeks.

Credit: 10TampaBay

So, what does that mean for us here in Florida and especially Orange and Osceola County? 

On Disney’s end not much. They mainly pay property taxes which COVID-19 isn’t going to affect.

RELATED: Disney stops paying 100,000 workers, saving $500 million a month amid theme park shutdown

RELATED: Thousands of Disney workers could automatically get entered in Florida's unemployment system

RELATED: Disney World is furloughing 43,000 more workers due to coronavirus

What will get hit is the 6-percent hotel tax that funds major projects in the area. Last year Orange County brought in $283.9 million from the tax.

What could see a drop is Walt Disney World’s charitable giving. Last year, the company donated $34.5 million in cash and in-kind donations to local nonprofits.

We asked Disney if they were planning on reducing their donations and they didn’t say what the plan was for cash giving but they have increased the number of physical donations. The parks have been donating extra food to groups like Second Harvest Food Bank of Central Florida and the Orlando Police Department. They have also been giving away unused merchandise like the Star Wars Rival Run Weekend t-shirts and 12,800 meal boxes that would have gone unused after the event’s cancellation.

#DisneyMagicMoments - Supporting Our Communities In Times of Need

Since the temporary closure of our parks and resorts, Walt Disney World has continued to focus on helping communities where we can. From food donations to deliveries of medical-related supplies for hospitals and humanitarian groups - to rain ponchos for nurses, Easter Lilies for seniors and even Disney treats for medical heroes - we are grateful to be able to give back and support those working on the front lines during this time of need. #Grateful #Community #DisneyMagicMoments

Posted by Walt Disney World Cast and Community on Saturday, April 18, 2020

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