U.S. media and entertainment conglomerate The Walt Disney Company has announced it will seek to cut 32,000 jobs in the first half of fiscal 2021, 4,000 more than previously reported, as the COVID-19 pandemic continues to decimate the theme park industry.
“Due to the current climate, including the impacts of COVID-19 and the changing environment in which we operate, the Company has generated efficiency gains in its staffing, including limiting hiring to roles critical sales, time off and downsizing. As part of these actions, the employment of approximately 32,000 employees, primarily at Parks, Experiences and Products, will end in the first half of fiscal 2021, ”the Walt Disney Company said in a Securities and Exchange Commission released Wednesday evening.
The coronavirus pandemic has forced the temporary closure of the company’s Walt Disney World Resort in Florida and Disneyland Park in California. The two have since reopened, the latter in mid-November, though attendance was capped under social distancing restrictions.
On November 12, the Walt Disney Company said the operating profit of the company’s parks fell $ 6.9 billion year-over-year in 2020 due to the closures and downsizing attendance during the reopening.
Josh D’Amaro, chairman of Disney Parks, announced in September that 28,000 of the unit’s 100,000 US employees would be laid off.
The Walt Disney Company was founded by cartoonist Walt Disney in 1923. The company has gone on to produce some of the world’s top grossing films and to open the most popular chain of theme parks around the world.
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