It takes the number of layoffs in the first half of fiscal 2021, mostly at Disney’s parks, experiences and products divisions, to 32,000 — more than 1/10 of its total workforce. The company’s parks in California remain closed due to a standoff with the state over lockdown measures.
Results earlier this month revealed how the coronavirus pandemic has hammered Disney’s traditional businesses like studios, parks and cruises while accelerating a pivot to streaming. The theme parks showed a loss of $1.1 billion in quarterly results this month, made up for by surging growth in its on-demand video platform Disney+, which smashed subscriber number estimates.
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