Disney announced on Tuesday it will cut 28,000 jobs from its US parks and experiences division, pointing to depressed demand caused by the coronavirus and uncertainty on when it will recover.[NEW YORK] Disney announced on Tuesday it will cut 28,000 jobs from its US parks and experiences division, pointing to depressed demand caused by the coronavirus and uncertainty on when it will recover.
The cuts were needed in light of social distancing requirements, exacerbated by tough restrictions imposed by the California state government, the company said in a press release.
The move comes on the heels of Disney's US$4.7 billion loss in the most recent quarter, which reflected the hit to its theme park business and the derailment or postponement of major movie releases.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Money FM: Podcasts of the week (Sept 28). Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Evening Update: Today's headlines from The Straits Times on Sept 28Good evening! Catch up on some of the main headlines on Monday, Sept 28.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Disney to lay off about 28,000 US parks employees due to coronavirus hitLOS ANGELES (REUTERS, AFP) - Walt Disney Co will lay off roughly 28,000 US employees in its theme parks division, the company said on Tuesday (Sept 29), as its resorts struggled with limited attendance and the continued closure of California's Disneyland due to the coronavirus pandemic.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Disney to lay off about 28,000 parks employees due to COVID-19 hitWalt Disney Co will lay off roughly 28,000 employees in its theme parks division, the company said on Tuesday, as its resorts struggle with ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Disney to lay off about 28,000 parks employees due to coronavirus hitWalt Disney Co will lay off roughly 28,000 employees in its theme parks division, the company said on Tuesday, as its resorts struggle with ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Disney to lay off 28,000 due to COVID, New York City imposes mask finesNew York City will impose fines on people who refuse to wear a face mask from Tuesday onward as coronavirus cases increase in some neighborhoods, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »