Latest in furloughs

Disney’s stock dipped more than 3% in early trading Monday after two analysts issued downgrades on its shares. The latest setback followed reports of the company’s expanded cutbacks due to COVID-19. The Financial Times reported over the weekend that 100,000 employees, mostly in theme parks, would be furloughed, a move…

Giant radio broadcaster iHeartMedia said it’s targeting $250 million in cost reductions this year, including furloughs and pay cuts, to help it weather the economic fallout from the coronavirus pandemic. "To provide visible and aligned leadership through this downturn, our senior management team and other employees…

About 43,000 unionized Walt Disney World employees will be furloughed starting April 19 because of the coronavirus crisis. The Service Trades Council Union, a coalition of six unions representing Disney World employees, made the announcement Saturday during a Facebook Live briefing. “This is a decision that the union…

Furloughs that Walt Disney announced last week in the midst of the coronavirus pandemic have begun to cycle through the film studios, we have learned. Disney, hammered by a complete loss of revenue from its shuttered theme parks and with film and TV production stalled, said it would furlough all staff whose work was…

MGM Resorts International, one of the largest employers in Nevada and a leading global casino company, will begin layoffs and furloughs next week after a significant slowdown in business amid coronavirus concerns. Employees were notified Friday in a company-wide letter from MGM President and COO Bill Hornbuckle. “As…