Disney's Planned Layoffs Grow to 32,000 Employees

Tucked away in Walt Disney's (NYSE: DIS) annual report for fiscal year 2020, the entertainment giant announced an increase in its planned coronavirus layoffs from 28,000 to 32,000 employees.

At the end of September, Disney said that it would terminate 28,000 workers due to challenges related to the COVID-19 pandemic. The number was quietly stepped up to 32,000 names in Disney's annual report, which was filed on Friday. The layoffs will be completed in the first half of fiscal year 2021, which works out to the end of March 2021. About two-thirds of the cuts will fall in the company's theme parks and resorts operations.

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Source Fool.com