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The financial toll of COVID-19 is building up at the Mouse House as Disney (NYSE:DIS) stops paying more than 100,000 employees this week, or nearly half of its workforce.
That will leave staff reliant on state benefits (though healthcare benefits will still be given in full), even as the company protects executive bonuses and a $1.5B dividend payment due in July.
The decision will save Disney up to $500M a month across its theme parks and hotels, which have been shut in Europe and the U.S. for almost five weeks.
Comment: This wouldn't have happened had the West not destroyed the countries the refugees are coming from.