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Disney plans to lay off roughly 32,000 workers in the first half of 2021

In a filing this week with the US Securities and Exchange Commission, The Walt Disney Company said it would be terminating the employment of 'approximately 32,000 employees'.

Article originally published by Business Insider. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Disney is laying off some 32,000 people who work for the company in the first half of 2020.

In a filing this week with the US Securities and Exchange Commission, The Walt Disney Company said it would be terminating the employment of "approximately 32,000 employees," primarily at its parks, Variety reported on Wednesday. The number includes Disney Parks' September announcement that 28,000 employees — many of whom were part-time employees — would be laid off, Variety confirmed.

"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," the company said in the SEC filing.

As Business Insider reported, Disney's theme parks division lost $2 billion in operating income for its third quarter, which ended in June, making it the hardest-hit segment of the company. The parks, including Florida's Walt Disney World and California's Disneyland, were forced to close at the start of the pandemic. Some were only beginning to slowly reopen over the summer, while others, like Disneyland in California, remain shuttered or have closed again.


This article was written by Charles Davis from Business Insider and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to legal@industrydive.com.

Article originally published by Business Insider. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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