Disney announces second round of layoffs due to pandemic's impact

source: forbes The Walt Disney Company has announced a second round of layoffs due to the ongoing impact of the COVID-19 pandemic on its business. The layoffs are part of the company's efforts to streamline operations and reduce costs in response to the pandemic's effects on the entertainment industry.

More than 4,000 employees to be affected

The layoffs are expected to affect more than 4,000 employees across various departments, including theme parks, theatrical productions, and consumer products. The cuts are in addition to the more than 28,000 employees that were laid off in 2020.

The impact of the pandemic on the entertainment industry

The entertainment industry has been hit hard by the COVID-19 pandemic, with movie theaters closing and productions being halted. Theme parks, which are a major source of revenue for Disney, have also been significantly impacted by the pandemic. Although some parks have reopened with reduced capacity, attendance levels are still below pre-pandemic levels.

Disney's efforts to streamline operations

Disney's second round of layoffs is part of the company's efforts to streamline operations and reduce costs in response to the pandemic's impact on its business. The company has also implemented other cost-cutting measures, including reducing executive salaries and suspending its dividend. [caption id="attachment_163847" align="aligncenter" width="1200"] source: 19fortyfive[/caption]

Disney's commitment to its employees

In a statement, Disney acknowledged the impact of the pandemic on its employees and reiterated its commitment to supporting them during this challenging time. The company is providing severance packages and other resources to help affected employees during the transition. Disney's second round of layoffs is a stark reminder of the ongoing impact of the COVID-19 pandemic on the entertainment industry. While the company is taking steps to streamline operations and reduce costs, it is also committed to supporting its employees during this difficult time. The pandemic's effects on the industry are likely to continue for some time, and companies like Disney will need to adapt and innovate in order to thrive in the post-pandemic world.