Hi everyone! Today I have some big news to tell you about some Disney Parks. At Disneyland and Disney World, they have announced that they are laying off 28,000 employees as the pandemic has hammers its parks and resorts business. The cuts will affect the Disney’s Parks, Experiences and Products unit. The company said 67% of the employees laid off will be part-time workers. Disney’s theme parks shut down globally this spring as the pandemic hit, dealing a huge blow to the company’s bottom line. The company’s profit dropped a whopping 91% during the first three months of 2020. Josh D’Amaro, the chairman of Disney (DIS) Parks, said the staffing cuts were necessary because of the “prolonged impact” of coronavirus on business. That included “limited capacity due to physical distancing requirements and the continued uncertainty regarding the duration of the 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,” D’Amaro said in a statement. D’Amaro added that Disney’s employees have always “been key to our success, playing a valued and important role in delivering a world-class experience.”
All of this information came from the CNN Business website.
What do you guys think about the employee layoffs? I would like to hear some comments or thoughts down below.
As always, stay tuned for more Disney park updates.