Disney’s total number of furloughed employees has reached at least 100,000, The Financial Times reports.
What’s the news:
- The Financial Times reported Disney has furloughed 100,000 employees, most of whom come from the theme parks.
- The move will reportedly save Disney $500 million per month.
- Disney has reportedly recommended that workers seek state benefits during the furlough period, though.
- That number of 100,000 represents about half of Walt Disney Company’s entire workforce, Deadline reports.
- Earlier in April, Walt Disney World furloughed 43,000 workers in one week, allowing them to keep their benefits for the entire year as a result of the coronavirus pandemic, The Associated Press reports.
- Disney told these workers they could keep their medical, dental and life insurance benefits during the furlough period, or at least up to one year, the AP reports.
- According to Deadline, Disney’s stock dropped 3% — down to $103 after hanging above $140 a month ago.