Disney: raises job cuts to 32,000 in parks
(CercleFinance.com) - Disney plans to axe 32,000 jobs at its parks, experiences and products business, which is more than previously expected, the entertainment giant said in a regulatory filing late on Wednesday.
The media company, which cites the Covid-19 impact, said the layoffs will be made in the first half of fiscal year 2021, by the end of March.
For the record, Disney previously expected to cut about 28,000 jobs at its theme parks division.
In the filing, Disney said that approximately 37,000 employees are currently on furlough as a result of the pandemic, even though it does not plan to terminate their employment contracts as of yet.
The company had approximately 203,000 employees at the beginning of October, of which approximately 155,000 worked in the parks, experiences and products segment.
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