Disney Furloughs 2020: 10 Things We Know

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Disney (NYSE:DIS) furloughs 2020 will have it reducing its workforce in light of the coronavirus from China.

Disney Furloughs 2020: 10 Things We Know

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Here’s what we know about the Disney furloughs 2020, according to CNBC.

  • The company is planning to furlough its non-union amusement park employees.
  • However, DIS hasn’t revealed just how many employees this will affect.
  • What we do know is that the Disney furloughs 2020 will start on April 19.
  • The company points out that it has already been providing pay to non-working employees.
  • It will continue to do so through April 18 for a total of five weeks of paid leave.
  • During the furloughs, Disney will continue to offer health benefits to its employees.
  • This will also have it covering all employee and company healthcare premiums.
  • While employees are furloughed, they can apply for unemployment benefits at the state and federal level.
  • Due to the nature of the coronavirus pandemic, it’s unknown when the Disney furlough 2020 period will end.
  • The company is also going to stop collecting annual pass payments due to its parks being closed.

It’s worth pointing out that the Disney furloughs 2020 doesn’t mean these employees are left out to dry. A furlough is different from being laid off. For example, these employees will be able to pick back up where they left off once the furlough ends. That means they won’t lose their positions with Disney.

DIS stock was down 3.2% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/04/disney-furloughs-2020-details/.

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