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Disney to furlough non-union employees

Yahoo Finance's Dan Roberts joined The Final Round to discuss the latest cuts Disney is making during the coronavirus pandemic.

Video transcript

DAN ROBERTS: So Disney is another example. Disney Parks right now, all the parks in the world, are still closed, and Disney now this week finally sort of waving its first white flag, announcing that it is going to furlough most of those parks employees starting April 19. This is non-union parks employees.

Now, they're still going to get health benefits. But there are 175,000 Disney Parks workers, and, of course, the parks are not open. So again, it's something that makes sense. It's understandable. It still sucks to see, and I think it's also the kind of news that makes all the other employees at Disney who do work that doesn't have to do with the parks concerned.

You know, what does it mean for ESPN, which is owned by Disney, which earlier this week had a lot of its top executives take salary percentage pay cuts? What does it mean for Disney Studios, for the movies and the shows, which right now are not filming any new content? You know, we've talked about how the only real silver lining for Disney right now is streaming, Disney+. But that isn't going to save you when the profit engine of the company is parks and cruises, and those are shut down right now.