The Walt Disney Company will lay off 4,000 more cast members than it initially announced, according to a company filing with the US Securities and Exchange Commission posted Wednesday night.
Disney had announced earlier this year that it would lay off 28,000 cast members from its Parks segment. The new 10-K filing says the company will lay off 32,000 cast members by the end of March 2021 - which will be a full year after the company’s theme parks initially closed due to the pandemic.
That’s an additional 4,000 employees who will be losing their jobs, as Disney continues to struggle with lower than expected attendance at Walt Disney World in Florida and the ongoing closures of the Disneyland Resort in California and the Disney Cruise Line.
“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. 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, 2020, approximately 37,000 employees who are not scheduled for employment termination were on furlough as a result of COVID-19’s impact on our businesses,” the filing said.
The layoffs represent about 20 percent of the 155,000 employees that Disney said it had in its Parks segment as of October.Tweet
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