What Disney’s Mass Layoffs Mean For The Entertainment Giant Going Forward

ANAHEIM, CA – FEBRUARY 25: Visitors attend Disneyland Park on February 25, 2020 in Anaheim, … [+] The announcement from Disney DIS -0.6% on mass layoffs in it’s Parks, Experiences and Products division has created waves across the themed entertainment industry. According to a statement from Disney, approximately 28,000 domestic employees will be affected by the layoffs, of which about 67% are part-time. The ongoing coronavirus pandemic and continued closures of some of Disney’s parks and resorts resulted in a $2 billion loss for the Parks, Experiences, and Products segment in its third quarter. Disney’s layoffs will be felt company-wide as it affects everyone from executives to hourly employees working inside the parks. It is important to note that while theme park personnel is what many people think of for the Parks, Experiences and Products division of the Walt Disney Company, it also encompasses Aulani, A Disney Resort & Spa in Hawaii, Disney Vacation Club, Disney Cruise Line, and Adventures by Disney, Walt Disney Imagineering, and Disney Consumer Products, Games and Publishing. The Disneyland Resort in Anaheim, California, employees about 32,000 people across the two theme parks, shopping and dining district, and three Disney-owned hotels. The resort has been […]

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