🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Disney increases planned layoffs to 32,000 as virus hits park attendance

Published 11/26/2020, 01:19 AM
Updated 11/26/2020, 11:50 AM
© Reuters. FILE PHOTO: A general view of the entrance of Disneyland theme park in Anaheim
DIS
-

(Reuters) - Walt Disney (NYSE:DIS) Co said on Wednesday it would lay off about 32,000 workers, primarily at its theme parks, an increase from the 28,000 it announced in September, as the company struggles with limited customers due to the coronavirus pandemic.

The layoffs will be in the first half of 2021, the company said in a filing with the Securities and Exchange Commission.

A spokesman for Disney confirmed that the latest figures include the 28,000 layoffs announced earlier.

Earlier this month, Disney said it was furloughing additional workers from its theme park in Southern California due to uncertainty over when the state would allow parks to reopen.

Disney's theme parks in Florida and those outside the United States reopened earlier this year without seeing new major coronavirus outbreaks but with strict social distancing, testing and mask use.

Disneyland Paris was forced to close again late last month when France imposed a new lockdown to fight a second wave of the coronavirus cases.

The company's theme parks in Shanghai, Hong Kong and Tokyo remain open.

© Reuters. FILE PHOTO: A general view of the entrance of Disneyland theme park in Anaheim

(Story corrects headline to remove reference to the coronavirus spreading in Disney's theme parks)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.