Disney Lays Off 28,000 Staff
Disney has cut the jobs of 28,000 staff as the financial impact of the COVID19 continues to ravage discretionary demand, and hamper its Disneyland and Disney World theme parks.
The company has confirmed layoffs will occur form within its consumer products division, theme parks and cruises, plus travel planning businesses.
“We initially hoped that this situation would be short-lived, and that we would recover quickly and return to normal,” states Disney parks boss, Josh D’Amaro, in a letter to employees.
“Seven months later, we find that has not been the case”
“And, as a result, today we are now forced to reduce the size of our team across executive, salaried and hourly roles.”
The company states cuts will enable it to operate as a more efficient operation, with the “heartbreaking” decision the only “feasible option” in light of the prolonged impact of COVID19.
The news comes as Disney continues to invest in its video streaming platform Disney+, whilst grappling with the optimum release of blockbuster films in the current climate.