Bloomberg Law
Sept. 29, 2020, 10:34 PM

Disney to Cut 28,000 Jobs in One of Biggest Layoffs of Covid Era

Christopher Palmeri
Christopher Palmeri
Bloomberg News

Walt Disney Co. is slashing 28,000 workers in its slumping U.S. resort business, marking one of the deepest workforce reductions of the Covid-19 era.

The belt-tightening move affects the company’s theme-park, cruise-line and retail businesses, Disney said on Tuesday. That includes executives and salaried employees, although 67% of those being terminated are part-time workers. Disney is offering benefits to the workers being eliminated, including 90 days of job-placement services.

Disney will cut 28,000 jobs at its U.S. theme parks. Bloomberg’s Chris Palmeri reports.
Source: Bloomberg)

The cutbacks jarred investors, who sent the shares down almost 2% in late trading. The stock was already down 13% this year.

It’s the latest sign that travel and other ...

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