Disney is laying off 28,000 people in the United States as the coronavirus pandemic hammers its parks and resorts business.
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.
