Eurodisney's Woes Continue
Ill-starred Euro Disneyland aims to slash 950 jobs--8.6% of the total--to ease a growing cash-flow problem. The increasingly feisty French unions vow to fight the job cuts that will mostly affect administrative staff. Analysts think losses at the park, located near Paris, topped $300 million for the year ended Sept. 30. The previous fiscal year, its first, saw a $32 million loss in six months mf operations. EuroDisney is seeking a capital increase from Walt Disney Co. of the U.S., 49% owner of the French park. And it's trimming prices at its cheapest hotels in hopes of luring more winter visitors. But despite all these moves, the company still seems a long way from turning profits.
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