Disney to Lay Off an Additional 4,000 Workers Amidst $6.9 Billion Loss

By Kurt Stolz on 26 November 2020
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Magic Castle at Walt Disney World

Walt Disney Company said it will lay off an additional 4,000 employees in addition to the 28,000 announced last September as it announced a $6.9 billion loss for fiscal year 2020.

The action comes as theme parks continue to face significant operational restrictions in the face of the coronavirus pandemic.

The pandemic has caused some Disney parks, such as Disneyland in Anaheim, to remain shuttered while others such as Walt Disney World in Orlando have been required to operate with significant limits on the number of visitors allowed. Disneyland in Paris, which reopened briefly, was forced to close in late October amidst a second wave of infections in France.  The result has been a dramatic drop in revenue.

The company said that the impact of the pandemic would continue for an indeterminate period of time and that it could be required to make additional park closures if conditions worsen.

(Photo: Accura Media Group)

Accura News

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