Disney to cut its 25,000 parks unit worker due to the coronavirus outbreak

30.09.2020 - Petr Mazaylo
Disney to cut its 25,000 parks unit worker due to the coronavirus outbreak

On Tuesday, Walt Disney Co. (DIS) announced that it would furlough 28,000 employees located at its United States theme parks.

The mass media and entertainment company said that its establishments in California would be closed due to the coronavirus pandemic.

“We have made the very difficult decision to begin the process of reducing our workforce at our Parks, Experiences and Products segment at all levels,” Disney’s Parks Unit Chairman Josh D’Amaro said in a statement.

“However, we simply cannot responsibly stay fully staffed while operating at such limited capacity,” he added.

Disney stated that the management had tried to avoid layoffs by cutting expenses, suspending projects, and streamlining operations.

Moreover, the company stated that almost two-thirds of the laid-off employees would be part-time workers.

Disney said that it started to pay health benefits for furloughed workers in April 2020.

 

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?