On Wednesday at a Securities and Exchange Commission filing, Disney disclosed the plans for its expanded layoffs largely in the Disney Parks, Experiences, and Products division. Earlier in September, the entertainment company said it would decrease the manpower by 28,000 people.
Disney increased the number by 4,000 for early 2021 as it is fighting the virus and the pandemic. Mostly the layoffs will hit the company’s parks division. Also, the net unfavorable impact of COVID-19 on its full-year segment operating income across all of its businesses was approximately calculated to be $7.4 billion. Not long ago, Downtown Disney in California reopened with new restrictions.
Walt Disney World reopened in Orlando, Florida, in July, after a series of safety overhauls including limited capacity. Also, the company’s theme park in Paris reopened but was forced to shut down again last month when France ordered a new lockdown as COVID-19 cases surged again in Europe.
Its studio entertainment sector has delayed, or in some scenarios, shortened or canceled, theatrical releases, which also means moving many of its titles like Mulan to the streaming service. Its Broadway productions have been suspended since late in the second quarter.