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Home » IANS » Disney plans to lay off 32k as pandemic hits theme parks biz

Disney plans to lay off 32k as pandemic hits theme parks biz

By IANS
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San Francisco, Nov 26 (IANS) Disney has increased the number of people it is planning to lay off in the first half of fiscal 2021 from 28,000 to 32,000, the company said in a filing with the US Securities and Exchange Commission (SEC).

The company is taking the step due to the impact of the pandemic mainly on its theme parks business.

In September, the company said it planned to reduced its staff by 28,000, two-thirds of whom are part-time staffers.

The new figure revealed in a 10-K filing on Wednesday includes the layoffs that were previously announced, Variety reported.

“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,” said the company in the SEC filing.

“As part of these actions, the employment of approximately 32,000 employees primarily at Parks, Experiences and Products will terminate in the first half of fiscal 2021.”

Additionally, as of October 3, approximately 37,000 employees who are not scheduled for employment termination were on furlough as a result of the pandemic’s impact on the company’s businesses.

The company noted that Covid-19 and measures to prevent its spread impacted its business in a number of ways, most significantly at Parks, Experiences and Products where its theme parks were closed or operating at significantly reduced capacity for a significant portion of the year.

–IANS

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