Today the Disney Corporation announced that it is having to shed up to 28,000 staff. The losses will be mostly at it’s US theme parks. It will also affect Disney Experiences and Product Segment at all levels.
Disney’s parks in California were due to reopen in July but due to the strict restrictions applied by the Californian Government because of the Coronavirus Pandemic the parks have remained closed.
Disney have blamed the limited visitor capacity and the current uncertainty of the longevity of the Coronavirus Pandemic. The Parks, Experiences and Product offerings are down around 85% versus the same time last year.
The layoffs are only in the US and the parks in Tokyo, Shanghai, Hong Kong and Paris remain unaffected for the time being.