Disney Announces Massive Layoffs After Being Hit Hard by Coronavirus Pandemic

Disney just announced they’ll be laying off 28,000 employees as they continue to suffer at the hands of the pandemic. Josh D’Amaro, Chairman of Disney Parks, made the announcement yesterday adding 67% of those to be let go are part-time employees. The company currently oversees more than 100,000 U.S. workers but since the pandemic hit, they’ve suffered severe financial losses. Most dramatically were the three months in the spring when they were forced to shut down parks worldwide and profits dropped by 91%. Disney then continued to report losses even when they were allowed to reopen. That was due in part to limited capacity restrictions, social distancing requirements, uncertainty over rising coronavirus case numbers, and more. D’Amaro said Disney’s employees have always “been key to our success” and that they hope to provide opportunities for employees to return when they can in the future.