Disney lay off 28,000 employees at theme parks

The Walt Disney Company's Chairman of Parks, Experiences and Products, Josh D’Amaro announced that approximately 28,000 employees -- known as "cast members" - will be laid off. The company said 67% of the employees laid off will be part-time workers. Due the COVID-19, Disney's theme parks was shut down globally and company's profit dropped a whopping 91% during the first three months of 2020. "As difficult as this decision is today, we believe that the steps we are taking will enable us to emerge a more effective and efficient operation when we return to normal," D'Amaro said in a statement.