Disney increases number of planned layoffs to 32,000 employees

[sri_india]

Walt Disney Co. is planning to shed 32,000 employees by the end of March — 4,000 more than previously announced — as the coronavirus pandemic continues to hammer its parks and resorts business.

The additional layoffs were disclosed in a filing to the US Securities and Exchange Commission on Wednesday. Disney (DIS) employs around 223,000 people, according to its most recent annual report. It had already announced plans to cut about 28,000 jobs in September.

The media and entertainment giant warned that it may also be forced to scrap its dividend in the future, and reduce or not make contributions to pension and retirement medical plans. It said it could slash investment in television and film productions, and furlough or terminate even more employees

[KhalilGibran]

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assam