In the late evening hours the day before the Thanksgiving holiday, Disney has quietly disclosed an updated figure for the total number of Cast Members that will be laid off due to the COVID-19 Pandemic that includes approximately 4,000 additional layoffs, bringing the total since the start of fall 2020 to 32,000. According to a business filing with the SEC, these additional layoffs will take effect in the first quarter of 2021, and will be complete by March 2021.
While the initial 28,000 layoffs solely impacted the domestic Disney Parks in the US, this figure is slightly more vague, affecting employees within the general Parks, Experiences and Products segment, which could be broader layoffs for Cast Members working outside the theme parks.
In addition to the layoffs 37,000 Disney employees who are not slated to be terminated were on furlough as of October 3.
Looking at the health of the Walt Disney Company at large, things have not been particularly good as Disney has estimated that the impact of COVID-19 for the most recent financial quarter has been $3.1 billion in total, with $2.4 billion of that coming from slowdowns in the Parks, Experiences and Products segment, which saw a 61% reduction in revenue year over year to $2.58 billion. For the theme parks specifically, the operating loss during the quarter is $1.1 billion, largely due to the ongoing Disneyland and Disney Cruise Line closure.
