The Walt Disney Co has officially announced to layoff its employee from its theme park divisions. The leading player in the international theme park business has been facing several losses for quite a long period of time. The company has reported its annual losses for the last quarter of this current year. Disney has taken several steps and strategies to bring down its cost of operation in maintaining the parks. It’s said that this the company was receiving millions of people from various regions of different parts of the countries throughout the year. Other than the theme park business the parent company owns multiple businesses in the entertainment industry like producing animation films and television series.
Disney has made an official announcement that it will be laying off 4000 employees from its theme park division located in the different states of America. It looks like the company will concentrate more on laying off its employees from California and Florida divisions. This is mainly due to the pandemic which caused the company a huge loss without travelers visiting these parks during holiday seasons. Even though the American government has extended its financial support to several manufacturing companies and other entertainment companies, still these companies couldn’t able to manage the loss inherited due to the global pandemic.
This announcement from the company was submitted to the US Securities and Exchange Commission earlier this week. It looks like the company has also shared some of the additional information about firing its employees to manage its operational costs in maintaining the parks and other equipment installed in those parks. It’s said that the company is planning to install artificial intelligence in maintaining and carrying out the operation inside the park. This strategic move to install those robots inside the theme park will drastically reduce its operational costs and brings in new changes to the outer appearance.
It looks like the company will be terminating 32,000 employees during the first quarter of the financial year 2021. This looks deceive to unemploy a huge number of employees, this might lead to a heavy crisis in the upcoming years. Already many financial experts have advice the US government to looks after the unemployment and also to guide the manufacturing companies to carry out their operations using manual inputs. Its also said that Disney also has further plans in laying off its employees during the year 2021. Many companies have projected their ideas to remove employed for sustaining its business model to the government.
During the month of September, the company officially announced that it will be terminating more than 28,000 employees from its theme park business. It also added that the company might bring in some of the more cost cuts like reducing its budget for developing the features film. prior to this, the company has been investing more than a million dollars in developing a sci-fi television series. It’s expected that the company might follow a new set of rules and standards in carrying out its financial expenses. It’s expected that the company might also layoff a certain number of employees from its Orlando theme parks.