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The Walt Disney Company’s previously announced furloughs have impacted each of its premium film labels, insiders tell Variety.
Beginning on Thursday, staffers at labels like Marvel, Lucasfilm, Pixar, Searchlight and more were notified of furloughs, primarily impacting staffers who cannot perform their job duties due to ongoing shutdowns related to the coronavirus pandemic.
Marketing and distribution departments were affected, one insider said, as Disney’s film release calendar has been upended by the mass closure of movie theaters across the country. A time frame for the furloughs, which differs from a layoff in that employees retain benefits like healthcare, was not immediately clear.
Following a Disney stock downgrade from Wells Fargo on Tuesday, the ongoing cost cuts are not surprising — making it clear for many industry watchers that loss of revenue from the company’s parks business is reverberating across the board.
Disney Furloughs Hit Film Labels, Including Marvel and Lucasfilm – Variety
Beginning on Thursday, staffers at labels like Marvel, Lucasfilm, Pixar, Searchlight and more were notified of furloughs, primarily impacting staffers who cannot perform their job duties due to ongoing shutdowns related to the coronavirus pandemic.
Marketing and distribution departments were affected, one insider said, as Disney’s film release calendar has been upended by the mass closure of movie theaters across the country. A time frame for the furloughs, which differs from a layoff in that employees retain benefits like healthcare, was not immediately clear.
Following a Disney stock downgrade from Wells Fargo on Tuesday, the ongoing cost cuts are not surprising — making it clear for many industry watchers that loss of revenue from the company’s parks business is reverberating across the board.
Disney Furloughs Hit Film Labels, Including Marvel and Lucasfilm – Variety
