Disney to lay off 32,000 employees due to economic crisis

Thousands of employees that are part of the Disney group will be unemployed, this because of the effects that the most famous company of amusement parks and hotels has registered, due to the coronavirus pandemic.

To be exact, the group will cut 32,000 amusement park jobs. Last September, the company announced that it would cut 28,000 jobs due to the economic impact the pandemic has had on its profits.

The amusement park closed its doors due to the pandemic. Photo: Pixabay

As reported by the company, most of the people who will be laid off are part of the payroll of the parks and experience centers. This is expected to occur during the first half of 2021.

On the other hand, the renowned entertainment company, which has theme parks and hotels in various parts of the world, said that it will take some additional measures to be able to face the economic crisis they are going through.

For example, they could interrupt some payments or outright stop making them in regards to certain contributions to their retirement medical plans, request financing, reduce their investments in film and television, as well as continue to cut their staff.

According to figures released by the company, so far they have recorded losses of 2,864 million dollars, which puts them in the « red », with the most affected businesses being amusement parks, cruise ships and movie premieres.

The company’s revenue fell 6% compared to last year, seeing its profits decrease by 37% in regards to amusement parks, and in its film studios by up to 13%.

But not all is bad news since the famous company registered an increase in its income of up to 14% in what refers to the hiring of television channels, this added to the profits obtained by the subscriptions to its streaming platform, launched Few days ago.

To continue being informed about this and other related topics, we invite you to visit our News section.