Disney to Layoff 32,000 Employees – 15% of Total Workforce

As the coronavirus pandemic continues to chip away at Walt Disney Co., the company announced that it will layoff 32,000 employees by the end of the first-quarter of 2021, according to the most recent annual report.

Disney to Layoff 32,000 Employees – 15% of Total Workforce

As the coronavirus pandemic continues to chip away at Walt Disney Co., the company announced that it will layoff 32,000 employees by the end of the first-quarter of 2021, according to the most recent annual report.

The news follows extensive furloughs within the company. As of Oct. 3, about 37,000 employees were placed on furlough who were not expected to be laid off.

Disney has said that the Covid-19 pandemic has lead to $2.4 billion in lost operating income during its fiscal fourth quarter.

Disney theme parks remain closed in California due state guidelines.

Disney also disclosed that it could limit its pension and retirement medical plans going into the future.

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