Disney plans to lay off around 32,000 employees, mainly in its theme parks business, in the first half of next year, the company has announced in a 10-K filing. The company says it’s making these redundancies “due to the current climate, including COVID-19 impacts.” It’s an increase of 4,000 compared to the 28,000 layoffs it initially announced back in September. The new figure includes the layoffs that were previously announced, Variety reports.
Along with the layoffs, Disney said it’s considering additional measures like reducing its investments in film and TV content, halting capital spending, and furloughing more employees. Already, 37,000 of its employees were on furlough as of October 3rd, Variety notes.
The announcement comes…
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Author: Jon Porter