Disney laysoff 32,000 employees amid low footfall at theme-park due to COVID-19 pandemic

Walt Disney on Wednesday informed that it would layoff 32,000 workers, an increase over the 28,000 it announced in September. Disney would fire employees primarily at its theme parks as the company struggles to fight with challenges like low footfall amid coronavirus pandemic. According to a Reuters report, the company informed in a filing that the layoffs will be in the first half of 2021.  

Earlier this month, Disney said it was furloughing additional workers from its theme park in Southern California due to the high amount of uncertainty as to when the theme parks would open. Last month, Disneyland Paris was forced to close again when France imposed a new lockdown to fight the second wave of the coronavirus cases. Disney Theme Parks in Shanghai, Hong Kong and Tokyo remain open.The Walt Disney Company recently announced a strategic reorganisation of its media and entertainment businesses with a focus on creating original content and streaming. This was done at a time when Covid 19 pandemic has hit theatres and amusement parks businesses worldwide while streaming has gained traction.