Disney to lay off 32,000 workers in first half of 2021

The Walt Disney Company has said it is planning to lay off 32,000 workers in the first half of 2021 amid weak customer demand in its theme parks due to the coronavirus 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," it said in a filing with the US Securities and Exchange Commission.

The entertainment conglomerate's decision of layoffs is an increase from 28,000 layoffs it announced in September.

The US company also placed another 37,000 employees on furlough (unpaid leave) as of Oct. 3 from its theme park in southern California, where parks have been restricted due to the virus outbreak.

Other multinationals, including technology giant IBM, WarnerMedia, and Exxon, among others, are also cutting workforce as COVID-19 continues to hurt businesses across the world.