Disney to Lay Off 28,000 Employees in Florida and California Theme Parks
The company has been massively affected by COVID-19.
Having suffered prolonged closures due to the ongoing coronavirus pandemic, Disney is now planning to lay off a staggering 28,000 staff from its theme parks in both Florida and California.
The announcement came on Tuesday from Disney’s head of parks, Josh D’Amaro. “As you can imagine, a decision of this magnitude is not easy,” the executive wrote in an internal memo obtained by CNBC. “For the last several months, our management team has worked tirelessly to avoid having to separate anyone from the company. We’ve cut expenses, suspended capital projects, furloughed our cast members while still paying benefits, and modified our operations to run as efficiently as possible, however, we simply cannot responsibly stay fully staffed while operating at such limited capacity.” The Associated Press further reported that roughly two-thirds of the layoffs will concern part-time employees, although hourly workers and those on a salary basis would also be affected.
These layoffs no doubt come as a big hit to the company’s “parks, experiences and consumer products,” which account for a whopping 37 percent of Disney’s $70 billion USD revenue.
In other business-related news, a U.S. District Court judge has temporarily blocked TikTok’s download ban.
