3. Walt Disney World in Florida lays off 11,000 Employees

Walt Disney World in Florida lays off 11,000 Employees

The writing was on the wall when Disney announced they were shifting their focus to streaming and content creation.

I think it's very possible that Disney may well become an IP Company/Content Creation Company for the foreseeable future. It'll hurt in the short to mid-term, but if we aren't going to be able to go out en masse until 2022 like Fauci predicts, they're making the right decision from a business standpoint. The humanistic standpoint is rightly awful, but I get why they are managing things this way.

Disney is basically pivoting to people being stuck at home / limited theatrical openings and putting their emphasis on those deliverables. Why waste capital on tourism?

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