With the hit of COVID-19 many organizations are been facing tons of losses in which one among the world-leading brands, Disney is also on the list. It’s no secret that the pandemic has hit hard to Disney as major businesses which include movie production and amusement park business are closed for months. However, after a long gap, Disney seems to resume its business by opening up the doors of its parks and production houses in a small capacity.
After Disney closed its door during the health crisis, the financial toll has reached billions of doors for which Disney had announced significant layoffs in their parks, experiences, and products division. In September, it was announced that Disney would lay off around 28,000 of their cast from all departments coming under Disney’s most iconic vital divisions due to the pandemic and major losses taken by the brand but a report from Securities & Exchange and Products division says that this proposed layoff will be even larger than it was announced.
Sources say that Disney recently filed a Form 10-K with the SEC which states that the number of layoffs could be further increased to around 32,000. This layoff is said to be made into action over the course of the first half of Disney’s 2021 fiscal year which began in October and will run through March 2021.
In addition, 4,000 jobs positon will be removed over the entire division which certainly means even more jobs lost withing the domestic parks is possible.
Recently, Disney gave a green signal to open up their Disney California Adventure with its limited operations and have put the cast back to work in it thus, the opening of the park is restricted to shopping and dining.
CEO Bob Chapek confirmed that Walk Disney World has been able to increase its capacity in the months since its reopening, but as the attractions of Disneyland Resort is still closed for which at least for now there is no sign of hope of its reopening, Disney had to go with further layoffs to reduce their operational cost.
Also, Walt Disney Imagineering is also hit with the layoffs from which recently one of Disney’s most well-known Imagineer, James Gunn said that he will retire in January. This means layoffs aren’t only impacting the parks under the Disney brand but also it’s impacted the long-term outlook since there are fewer people working on the next inside the theme parks.
As the layoffs are set to happen in the course of the next few months, most of the people who are impacted by this don’t even know their fate yet. Many currently working cast will likely to spend the holidays wondering about if their jobs are safe or not. Many people dream to work for Disney but now their dreams are getting to an end.