Disney will lay off 28,000 workers as the pandemic continues to ravage its theme park business
- Disney will lay off 28,000 workers from its parks, experiences, and products business, the company said on Tuesday.
- The layoffs come as Disney's California parks remain closed. Other locations, including in Orlando, Florida, have reopened with limited capacity.
- Disney's parks contributed more than one-third of the company's revenue in 2019.
Disney will lay off 28,000 workers across its US business, the company said on Tuesday.
The layoffs come as the company's Anaheim, California parks — California Adventure and Disneyland — remain shuttered. Disney's other resorts in Florida, Paris, Shanghai, Hong Kong, and Tokyo have reopened with limited capacity.
"As heartbreaking as it is to take this action, this is the only feasible option we have in light of the prolonged impact of COVID-19 on our business," Disney's head of parks, Josh D'Amaro wrote in a letter to employees reported by the Washington Post.
About two-thirds of the laid off workers were part-time employees, CNBC reported, and most had already been furloughed.
Disney's parks, experiences, and consumer products segment — which incorporates its sprawling theme park business — accounted for 37% of Disney's $69.6 billion in revenue in 2019, more than any other business unit.
Disney reported a $4.72 billion loss for the second quarter, its first quarterly loss in almost 20 years, according to the Wall Street Journal.