Walt Disney will stop paying more than 100,000 employees, starting this week, in a bid to save more cash amid the coronavirus crisis.
The entertainment behemoth will continue to provide full healthcare benefits for staff on unpaid leave, according to the Financial Times.
The employees, whose paychecks are to be discontinued, will be asked to seek state benefits.
Earlier this month, Disney's SEC filing revealed that it entered into a new credit agreement with Citigroup for as much as $5 billion to help see itself through the lockdown. The facility is apparently for general corporate purposes, as indicated in the filing.
Disney had earlier announced plans to furlough certain non-essential U.S. employees starting April 19. The company asked them to apply for the additional $600 a week of federal support as part of the U.S. government's $2 trillion coronavirus stimulus package.