Covid-19: Disney is laying off 28,000 employees

NEW YORK (Sept 30): Disney is slashing 28,000 jobs in the United States as the theme park and resort business were badly hit by the Covid-19 pandemic, reported CNN.

The report said the job cuts will affect the Disney’s Parks, Experiences and Products unit, about 67% of the part-time workers will be laid off.

Disney’s parks and resort division has over 100,000 employees. Its theme parks globally have shut down since early of the year due to the Covid-19 outbreak.

During the first three months of 2020, the company’s profit has plunged 91%.

Disney (DIS) Parks chairman Josh D'Amaro, in a media statement, said the job cuts are a necessary measure due to the "prolonged impact" of the Covid-19 pandemic.

"As difficult as this decision is today, we believe that the steps we are taking will enable us to emerge a more effective and efficient operation when we return to normal," he said in a statement.

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