Disney announced Thursday it would close all of its Walt Disney Theme Parks in 2020.
The Walt Disney Parks and Resorts announced the decision in a statement.
It was the latest step in the company’s plans to end its long-term lease at the parks.
The parks will not be open to the public, and guests will be able to visit other parks at Disneyland, Disney’s Hollywood Studios and Disney California Adventure, but Disney said the decision was not about closing the parks, but rather about consolidating operations and improving guest experiences.
The company said it would continue to operate the theme parks in a phased manner through the 2020s.
Disney also said it plans to begin removing guest services from the parks in 2020, with most guests visiting from the park’s restaurants and lounges.
The decision will result in fewer than 30,000 employees.
“Disney continues to operate our theme parks with a commitment to our guests and the enjoyment they create for our guests.
In our pursuit of efficiencies and the best long-range plans, we are taking the steps necessary to further focus our operations in a way that delivers the highest possible return for our shareholders and our employees,” Disney said.
The news comes on the heels of Disney announcing plans to shutter its theme parks and resorts in 2020 for at least five years, with the resort closures expected to cost the company as much as $1.3 billion.