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Disney to lay off 4,000 more workers
Walt Disney Co said it is cutting an additional 4,000 jobs, which will mostly impact its battered theme parks division.
In a Securities and Exchange Commission filing, Disney said it will lay off 32,000 by March 2021, after previously announcing 28,000 positions would go.
"Due to the current climate, including Covid-19 impacts, and changing environment in which we are operating, the Company has generated efficiencies in its staffing, including limiting hiring to critical business roles, furloughs and reductions-in-force," Disney said in the filing.
It said another 37,000 employees not scheduled to be laid off remain furloughed ‘as a result of Covid-19’s impact on our businesses.’
Walt Disney World reopened in July under strict capacity limits but Disneyland, the world’s second-most visited theme park, still remains closed.
Disney employs about 200,000 globally.
The theme parks posted a loss of $1.1 billion in its latest quarterly results
"Covid-19 and measures to prevent its spread impacted our segments in a number of ways, most significantly at Parks, Experiences and Products," the filing said.
Written by Ray Montgomery, US Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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