Disney to cut its workforce by 28 thousand jobs in the United States

The Walt Disney Company (NYSE: DIS) expressed plans of cutting its workforce by 28 thousand jobs on Tuesday. The layoff, it added, will primarily affect theme parks in the United States where COVID-19 continues to weigh on visitor numbers. Disneyland California is still closed for the public. The Walt Disney Company published its earnings report in August that highlighted £3.61 billion of net GAAP loss in the fiscal third quarter. Its revenue in Q3 came in weaker than what the experts had forecast due to the COVID-19 restrictions. In separate news, Britain’s Morrisons created over 1,000 jobs to pick and