Walt Disney Company is restructuring its operations to prioritize streaming as the pandemic reshuffles the entertainment industry.

With the new structure, there will be three content groups: movies, sports and general entertainment such as television shows. Another arm will determine on which platforms content will be distributed.

Read more Show less

Disney is laying off 28,000 workers at its U.S. theme parks after the pandemic devastated Walt Disney World and kept Anaheim's Disneyland Resort shuttered for six months.

Disney Parks Chairman Josh D'Amaro said Tuesday that 67% of those being laid off from both Disney World and Disneyland are part-time employees.

"As difficult as this decision is today, we believe that the steps we are taking will enable us to emerge a more effective and efficient operation when we return to normal," said D'Amaro in a statement.

Disney World was able to open with a limited capacity in July, but Disneyland has been closed since March. D'Amaro took a jab at Gov. Gavin Newsom suggesting that his hand was forced by California's "unwillingness" to allow for the park to open.

On Tuesday, 19 state legislators pleaded with Newsom following calls from Anaheim's mayor to reopen the Disneyland and theme parks throughout California. They argued that parks can reopen safely but they are left in the dark as to which steps need to be followed for reopening.

The announcing statement also added that they are speaking to unions in order to know what steps are next for union-represented cast members.

Disney's third quarter earnings showed an 85% drop in revenues to $2 billion from the company's parks, experiences and products division compared to the same period last year.

Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • Disney Plus Surpasses 60 Million Subscribers
  • Rocket Lab Boosts Payload Capacity
  • Microsoft Backs Maker of Voice-Activated Chip, Syntiant, in $35M Round
Read more Show less

Trending