Apr 20, 2020

Disney stops paying 100,000 workers during downturn

Walt Disney will stop paying more than 100,000 employees this week as it struggles with coronavirus closures. Disney saw operating income from its theme parks, experiences and products business division increase 17% for the last three months of 2019 to $1.4bn. The company said it will provide full healthcare benefits for staff placed on unpaid leave and urged its US employees to apply for government benefits through the $2tn coronavirus stimulus package. Disney Plus racks up 50m subscribers in five months. Disney's fortunes for its online streaming site Disney Plus are much better, with more than 50m subscribers in just five months since it was launched. Last month Walt Disney said its executive chairman Bog Iger would give up his entire salary during the pandemic while chief executive Bob Chapek will take a 50% pay cut.

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