Cant hold on! Disney will lay off 32000 people after a huge loss of $2.8 billion

category:Finance
 Cant hold on! Disney will lay off 32000 people after a huge loss of $2.8 billion


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According to its latest annual report, Disney has about 223000 employees. The company announced in September that it plans to cut about 28000 jobs, 4000 more than in September. As a media and entertainment giant, Disney may also be forced to cancel dividends, reduce or cancel contributions to pension and retirement medical plans in the future. In addition, Disney is likely to cut investment in television and film production and take vacations or lay off more employees. Some of these measures may have an adverse impact on our business, Disney said in the document

It is reported that novel coronavirus pneumonia has caused Disneys Park business to suffer from over 100 thousand employees. The company has also been forced to suspend cruise flights and postpone the release of major films such as the black widow. It is reported that in the year ended September 30, Disney had lost $2.8 billion, a sharp reversal from the previous years profit of $10.4 billion.

On November 13, Beijing time, Disney released the fourth quarter financial report, saying that the fourth quarter revenue was 14.71 billion US dollars, and the market estimated that it was 14.2 billion US dollars; after adjustment, it lost 20 cents per share, and the market estimated that it would lose 73 cents; the net loss was 710 million dollars, and the market expected loss was 1.695 billion dollars. In the fourth quarter, the revenue of theme park, experience and consumer goods business was $2.6 billion, down 61% year-on-year, and the revenue of media network business was $7.2 billion. Disney is not the only big company planning to cut jobs on a large scale. The impact of the novel coronavirus pneumonia on the aviation industry and the global suspension of Boeing 737MAX series aircraft announced that the US aerospace giant Boeing announced a fourth consecutive quarterly loss on October 28th. Boeing said it plans to cut 30000 jobs by the end of next year. Source: daily economic news, comprehensive CCTV news, AI news, Disney plans to lay off 32000 people_ NF

On November 13, Beijing time, Disney released the fourth quarter financial report, saying that the fourth quarter revenue was 14.71 billion US dollars, and the market estimated that it was 14.2 billion US dollars; after adjustment, it lost 20 cents per share, and the market estimated that it would lose 73 cents; the net loss was 710 million dollars, and the market expected loss was 1.695 billion dollars. In the fourth quarter, the revenue of theme park, experience and consumer goods business was $2.6 billion, down 61% year-on-year, and the revenue of media network business was $7.2 billion.

Disney is not the only big company planning to cut jobs on a large scale. The impact of the novel coronavirus pneumonia on the aviation industry and the global suspension of Boeing 737MAX series aircraft announced that the US aerospace giant Boeing announced a fourth consecutive quarterly loss on October 28th. Boeing said it plans to cut 30000 jobs by the end of next year.

Disney plans to cut 32000 jobs