Washington: Walt Disney announced on Monday that it will stop paying more than 100,000 employees from this week as it struggles with closures caused by the coronavirus pandemic.
The world’s biggest entertainment group operates theme parks and hotels in the US, Europe and Asia.
Stopping pay for almost half of its workforce will save Disney up to $500m (£400m) a month, according to the Financial Times.
Disney made operating income of $1.4bn for its parks, experiences and products in the last three months of 2019.
The company said it will provide full healthcare benefits for staff placed on unpaid leave and urged its US employees to apply for government benefits through the $2tn coronavirus stimulus package.