The Walt Disney Co. announced plans to lay off 4,000 more workers in its theme parks division in California and Florida due to the COVID-19 pandemic's effect on the industry.
The announcement by the company was made in a U.S. Securities and Exchange Commission filing earlier this week, saying 32,000 employees will be terminated in the first half of fiscal year 2021, which began last month. In late September, the company had already announced plans to terminate 28,000 theme park workers.
In the SEC document filed on the eve of Thanksgiving Day, the company said it also put 37,000 employees not scheduled for termination on furlough as a result of the pandemic.
“Due to the current climate, including COVID-19 impacts, and changing environment in which we are operating, the company has generated efficiencies in its staffing, including limiting hiring to critical business roles, furloughs, and reductions-in-force,” the document said.
The company also said they may make more cuts in spending such as reducing film and television content investments and additional furloughs and layoffs.
In Florida, the company has been limiting attendance at its parks and changing protocols to allow for social distancing by limiting characters' meet and greets.
The company has not specified the number of workers that would be affected in its Orlando theme parks.
Disney’s parks closed in March as the pandemic started spreading in the U.S. The Florida parks reopened in the summer, but the California parks have yet to reopen pending state and local government approvals.
Oil and gas giant BP will purchase electric vehicle chargers from Tesla for $100 million.
Reports say olive oil prices have jumped 75% since January of 2021.
The big three car companies for GM and Stellantis have agreed to pay striking workers as they spend time on the picket line, according to The Wall Street Journal.
Elon Musk is making a big prediction about artificial intelligence and the jobs market.
Open enrollment season is here and the stress of picking the right plan for you could sometimes get overwhelming. Rosalyn Glenn, financial advisor with Prudential, joined Cheddar News to discuss what to know and understand about selecting your benefits to cover your medical needs and conditions, if any.
Learning about money is a skill that should be learned at an early age. OneMain Financial is now offering a financial course called 'Credit Worthy' across several high schools across the country, along with some scholarships. Doug Shulman, CEO of OneMain Financial, joined Cheddar News to discuss the importance of learning and understanding credit. "Over half of high school students graduate without knowing the basics about credit," Schulman said. "It really helps establish a great foundation to being an independent adult, to have a healthy and happy life, and some financial security is part of that."
Mariah Carey is facing a second lawsuit claiming copyright infringement over her song, "All I Want For Christmas is You."
Apple posted better-than-expected results for the third quarter but continued to report soft revenue. Cheddar News breaks it all down.
Thousands of hospitality workers across 18 casinos in Las Vegas have announced they are set to strike if a new contract agreement is not reached by Friday, November 10.
Mariah Carey, the 'Queen of Christmas,' is teaming up with Victoria's Secret for a new holiday collection.
