Disney Lays Off More Than 145 People for Parks and Resorts Restructuring

The Walt Disney Company notified Parks and Resorts cast members today that they are laying off 0.1 percent of the division, which would equal out to more than 145 positions. The jobs have been cut as part of a restructuring program, and Disney is assisting the affected employees in finding other positions both within and outside the company. Disney does not expect the layoffs to affect guests, as the cast members cut were not hourly workers and did not deal directly with visitors; the departments affected were human resources, finance, marketing and sales, and operations. Disney recently released its fourth quarter earnings report, which showed drops in revenue and operating income for all divisions except Parks and Resorts. Compared to 2016's fourth quarter, the division's 2017 Q4 saw an increase of 6% in quarterly revenues and 7% in quarterly operating income. Compared to the previous fiscal year, Parks and Resorts had an 8% increase in yearly revenues and 14% increase in yearly operating income. Source: The Orlando Sentinel

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