Disney announces $1,000 Cash Bonus and Company Launches New $50 Million Higher Education Program
125,000 Disney Cast Members will be getting a $1,000 bonus over the next few months. All full and part-time non-executive employees, either hourly or salaried, who have been with The Walt Disney Company since January 1, 2018, and are based in the United States will be paid a one-time $1,000 cash bonus. Employees will receive the bonus in two payments, the first in March and the second in September of this year.
“I am proud we are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program,” Mr. Iger said. “I have always believed that education is the key to opportunity; it opens doors and creates new possibilities. Matched with the $1,000 cash bonus, these initiatives will have both an immediate and long-term positive impact.”
The Company will also make an initial investment of $50 million in a new and ongoing education program specifically designed to cover tuition costs for hourly employees.
The two new initiatives are a result of the recently enacted tax reform and represent a total allocation of more than $175 million in this fiscal year.
NBC/Comcast also announced a $1,000 bonus for more than one hundred thousand eligible frontline and non-executive employees.