Disney announced on Tuesday that the company would be cutting 28,000 jobs across its theme parks as a result of poor park attendance caused by covid-19, the Guardian reports. The happiest place on earth was among the first major corporations to push for reopening in an attempt to minimize losses. But according to the Wall Street Journal, Disney lost over $4 billion in a single quarter, its first quarterly loss in almost 20 years. Maybe they should have put a few more coins into their Donald Duck-shaped piggy banks.
Since being allowed to reopen at limited capacity, Disney has been operating their parks in Florida, Paris, Shanghai, Japan, and Hong Kong, and plans to continue operating those locations with a reduced staff. Those working at the park in part-time positions will be among the first to be banished from the Magic Kingdom while Disney continues to push California Governor Gavin Newsom to allow Disneyland to reopen. Because of inadequate health protections, Newsom has not given approval for the reopening.
In a letter to staff, made public by CNBC, Disney’s head of parks referred to this as “the only feasible option we have in light of the prolonged impact of Covid-19 on our business.” It’s worth noting that during the pandemic, Disney has hosted the NBA and MLS in its World Wide Sports Complex. Interesting that a multi-billion dollar international company, responsible for the economy of entire states and bankrolling a huge percentage of what is consumed on television and in theaters, can’t find some other method to not cut the jobs of its most vulnerable employees.