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MarketScreener Homepage  >  Equities  >  Nyse  >  The Walt Disney Company    DIS

THE WALT DISNEY COMPANY

(DIS)
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Walt Disney : Disney to lay off 4,000 more employees amid pandemic

11/27/2020 | 10:42am EST

ORLANDO, Fla. (AP) — The Walt Disney Co. announced plans to lay off 4,000 more employees largely due to the effects of the COVID-19 pandemic.

The announcement by the company was made in a U.S. Securities and Exchange Commission filing earlier this week, saying 32,000 employees at the parks, experiences and products division 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. The company did not say how many of the additional 4,000 employees work at the California or Florida theme parks.

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.

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.

A previous version of this report said the 4,000 workers worked at the theme parks division. But the figure includes employees at parks, experiences and products.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Financials (USD)
Sales 2021 69 640 M - -
Net income 2021 2 297 M - -
Net Debt 2021 41 423 M - -
P/E ratio 2021 119x
Yield 2021 0,69%
Capitalization 311 B 311 B -
EV / Sales 2021 5,06x
EV / Sales 2022 4,13x
Nbr of Employees 203 000
Free-Float 98,6%
Chart THE WALT DISNEY COMPANY
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The Walt Disney Company Technical Analysis Chart | DIS | US2546871060 | MarketScreener
Technical analysis trends THE WALT DISNEY COMPANY
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 183,56 $
Last Close Price 171,28 $
Spread / Highest target 22,6%
Spread / Average Target 7,17%
Spread / Lowest Target -32,9%
EPS Revisions
Managers and Directors
NameTitle
Robert A. Chapek Chief Executive Officer & Director
Robert A. Iger Executive Chairman
Rebecca Campbell Chairman-International Operations
Christine M. McCarthy Chief Financial Officer & Senior Executive VP
Diane Jurgens Chief Information Officer
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