Walt Disney to end 32,000 positions, mostly in parks, by March – deadline

Walt Disney announced Wednesday that a total of 32,000 employees, mainly in its Parks, Experiences and Resorts division – including 28,000 already announced – will be laid off during the first half of its 2002 financial year1, ie by March.

The entertainment giant already unveiled in September the 28,000 staff cuts in parks, which were closed by the pandemic and reopened only at reduced capacity, if at all. Disneyland has not actually reopened yet. An SEC filing before Thanksgiving set a deadline for the cuts. Disney, like companies in the entertainment industry, has also seen layoffs in other divisions, but nothing on the scale of the parks.

The SEC filing followed the company’s fourth quarter and full year results released on November 12 by several weeks. He said Disney employed around 203,000 people as of Oct. 3, around 80% full-time and 20% part-time, with almost 1% of the part-time population being seasonal employees. Of this total, approximately 155,000 worked in Parks, Experiences and Products. The deposit, called 10K, is a more detailed annual financial summary for the past year.

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The earnings report noted that the parks division suffered a “negative impact” of $ 2.4 billion in the fiscal fourth quarter ended in September and $ 6.9 billion for the full year due Covid-19 closures or reduced operating capacities. The deposit, called 10K, is a more detailed annual financial summary.

“Due to the current climate, including the impacts of COVID-19 and the changing environment in which we operate, the Company has generated efficiency gains in its staffing, including limiting hiring to roles critical sales, time off and downsizing. As part of these actions, the employment of around 32,000 employees, mainly at Parks, Experiences and Products, will end in the first half of fiscal 2021 ”, indicates the file.

As of October 3, Disney also noted that “approximately 37,000 employees with unplanned layoffs were on leave due to the impact of COVID-19 on our business.”

Parks were among the hardest hit entertainment segments during the pandemic era along with cinemas and live events. Parks traditionally account for about a third of Disney’s revenue. The division saw its sales drop 61% in the fourth quarter from a year earlier with Disney World in Orlando and Shanghai and Hong Kong Disneyland open.