9/14, 10:54 AM (Source: TeleTrader)
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Disney Tokyo to slash bonuses by 70% - report

The operator of Tokyo Disney Resort, Oriental Land, said on Monday it intends to slash down winter bonuses by 70% for approximately 4,000 full-time and part-time employees.

According to Nikkei’s sources, the company urged some performers to transfer or retire in order to diminish huge costs caused by the novel coronavirus. Most of the contract workers will reportedly have to choose between working in a different department or receiving severance pay on retirement while around 1,000 people could be fired.

The company reported that its revenue in the third quarter plunged 42% annually to land at $11.78 billion in the third fiscal quarter, failing to meet market expectations.

Breaking the News / TF