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Disney Plans to Slash 28,000 Jobs in Parks Business

Disney Plans to Slash 28,000 Jobs in Parks Business
A man takes a photo outside the gates of Disneyland Park on the first day of the closure of Disneyland and Disney California Adventure theme parks due to the spread of COVID-19 in Anaheim, Calif., on March 14, 2020. David McNew/AFP via Getty Images
Tim Shaler
|Updated:
Commentary

Walt Disney Co. has announced it will lay off off 28,000 domestic employees in its Parks, Experiences and Products segment as a result of the continuing effects of COVID-19, after its most recent earnings report showed the pandemic had cost its theme-park business roughly $1 billion in operating income in its fiscal second quarter.

Tim Shaler
Tim Shaler
Author
Tim Shaler is a professional investor and economist based in Southern California. He is a regular columnist for The Epoch Times, where he exclusively provides some of his original economic analysis.
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