Categories: Business

Disney Layoffs Increase to 32,000 Due to Negative Effects of Covid-19 Pandemic

Disney is increasing its layoffs to around 32,000 workers as the coronavirus pandemic continues to negatively affect the theme park industry.

The majority of these layoffs will be from its parks, experiences and products division and include the 28,000 workers that the company previously announced in September.

Prolonged closures at Disney’s California-based theme parks and limited attendance at its open parks has forced the company to slim down its workforce. Earlier this month, Disney said the Covid-19 outbreak cost its parks, experiences and products segment around $2.4 billion in lost operating income during its fiscal fourth quarter. The segment saw revenue fall 61% to $2.6 billion.

Follow us on:

AriseNews

Recent Posts

Tinubu To Bayelsa Delegation: Infrastructural Development Will Spur Economic Prosperity

Tinubu has pledged to support infrastructural development, saying it will encourage Nigeria’s economic advancement

21 mins ago

US Presidential Election: Most Voters Say American Democracy is Under Threat, According to Exit Polls

Exit polls have revealed nearly three-quarters of voters see American democracy as threatened, highlighting deep…

26 mins ago

Emami: Itsekiris Deserve Political Patronage From Tinubu Government

Chief Ayiri Emami has urged President Tinubu to grant political roles to Itsekiris, highlighting their…

28 mins ago

Ekiti Governor Appoints Justice Ogunmoye as Acting Chief Judge Following Justice Adeyeye’s Passing

Governor Oyebanji has named Justice Lekan Ogunmoye as Ekiti’s Acting Chief Judge following the death…

36 mins ago

Atiku Mocks Tinubu’s Administration + Remi Tinubu To Lead National Prayer Over Hardship + Trending With Ojy Okpe

https://www.youtube.com/watch?v=4hO0t4ncNv4 It’s Election Day in America, and as Americans head to the polls to vote…

4 hours ago

APC to Atiku: You Are Africa’s Most Infamous Election Loser

"Make no mistake. Atiku is Africa’s most infamous presidential election loser.” APC National Publicity Secretary…

4 hours ago