Stopping pay for almost half of its workforce will save Disney up to $500m (£400m) a month
Walt DIsney has decided to stop paying its 100,000 employees from this week during the coronavirus lockdown.
The employees of Disney theme park and hotels in the US, Europe and Asia will be facing this cut down of salary, reports BBC.
Stopping pay for almost half of its workforce will save Disney up to $500m (£400m) a month, according to the Financial Times.
Disney made operating income of $1.4bn for its parks, experiences and products in the last three months of 2019.
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.
Though their recreation entities are facing loss but Disney's online streaming site Disney Plus are doing quite well bagging more than 50m subscribers in just five months since it was launched.
Last month Walt Disney said its executive chairman Bob Iger would give up his entire salary during the pandemic while chief executive Bob Chapek will take a 50% pay cut.