The Walt Disney Co., the US entertainment giant, is suffering colossal losses. In the second quarter, the Walt Disney Company's net income crushed by 91% year-on-year due to the shuttered parks, suspended movies, and other stalled projects across the globe. In addition, there has been a noticeable increase in labor costs as the company is paying salaries for employees who are not temporarily working. Nevertheless, Disney revenue rose by 21% to $18 billion, just short of the $19.09 billion a year earlier. Yet, the company’s net income declined. Disney’s second-quarter profit totaled $475 million, down from $5.4 billion a year earlier.
