Walt Disney Co. is planning to lay off 32,000 employees as lockdowns continue to keep theme parks shuttered.
Many of the cuts will come from its theme parks. Its California park, Disneyland, has been closed since pandemic lockdowns began in March.
The company originally announced 28,000 jobs cuts in September.
Disney also said it may take additional measures, such as not declaring future dividends and cutting company contribution to pension and postretirement medical plans.
Disney announced earlier this month that it saw a second consecutive quarterly loss, even as subscriptions to its streaming service, Disney+, surge.
"With the unknown duration of COVID-19 and yet to be determined timing of the phased reopening of certain businesses, it is not possible to precisely estimate the impact of COVID-19 on our operations in future quarters," the company said.
