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Walt Disney Expected To Lay Off 4,000 More Employees




The Walt Disney Co. has announced plans to lay off 4,000 more employees due to the effects of the COVID-19 pandemic.


The announcement came by way of a U.S. Securities and Exchange Commission filing earlier this week. The company revealed 32,000 employees at the parks, experiences and products division will be terminated in the first half of fiscal year 2021.


This is not the beginning of Walt Disney’s mass firings, back in September nearly 28,00 theme park workers were terminated.


According to the SEC filing, 37,000 Disney employees were placed on furlough.


Aside from the devastating impact the pandemic has had on Disney park employees, they claim that television and production related cuts could be on the horizon. The company stated: “we may make more cuts in spending such as reducing film and television content investments and additional furloughs and layoffs.”


The Walt Disney co wrote in the SEC document: “Due to the current climate, including COVID-19 impacts, and changing environment in which we are operating, the company has generated efficiencies in its staffing, including limiting hiring to critical business roles, furloughs and reductions-in-force,”


Walt Disney’s parks were shut down in March amid the initial impact of the pandemic. It’s Florida location reopened in the summer under strict guidelines. However, the park remains closed in California.


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