Coronavirus impact: Disney stops paying 100,000 workers to save $500m a month
Theme park owner risks reputational damage as it slashes costs more severely than rivals.
Disney made nearly $7bn in operating income from its parks, experiences and products business last year, making up nearly half of all operating profits.
Walt Disney will stop paying more than 100,000 employees this week, nearly half of its workforce, as the world’s biggest entertainment company tries to weather the coronavirus lockdown. Suspending pay for thousands of so-called cast members will save Disney up to $500m a month across its theme parks and hotels, which have been shut in Europe and the US for almost five weeks.layout comes with the latest social features built in.
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