ORLANDO, Fla. — Disney announced that it will lay off an additional 4,000 of its employees by the end of March due to the coronavirus pandemic. That’s in addition to 28,000 that the entertainment giant announced in September that it would lay off.
What You Need To Know
- In all total, 32,000 employees will be laid off
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The news of the layoffs came on Wednesday as Disney filed with the Securities and Exchange Commission.
The Walt Disney World Company stated that overall, about 32,000 employees will be terminated in the “first half of the fiscal 2021” and that number includes the 28,000 layoffs that were announced in September.
In a 10-K filing released Wednesday, The Walt Disney Company said, overall, approximately 32,000 employees will be terminated in the “first half of fiscal 2021” due to COVID-19 impacts. This number includes the 28K layoffs that were announced for the Parks division in September. pic.twitter.com/OIy7UBTXIg
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According to Disney’s recent annual report, it employs more than 223,000 people and its parks business has more than 100,000 employees in the U.S.
The company warned that it may also get rid of its dividend and reduce or not make any contributions to pension and retirement medical plans.
The pandemic has had continuous negative impacts on not just Disney, but other Florida theme parks.
It was reported back in September that more than 900 SeaWorld and Busch Gardens employees were laid off.