Disney says it will cut 32 thousand jobs in the first half of fiscal 2021

In an announcement on Wednesday, the Walt Disney Company (NYSE: DIS) said it will slash its workforce by 32 thousand jobs as the ongoing COVID-19 crisis continues to wreak havoc on its business. The company said the lay off will primarily affect workers at its theme parks where foot traffic is at an all-time low this year. Disney shares are currently close to 5% up on the weekly chart. At £111.20 per share, the U.S. company is now trading close to the same per-share price at which it started the year 2020. The stock had tumbled to as low as