Top Disney Executives Receive Pay Reductions Amid Ongoing Coronavirus Crisis
As the Coronavirus continues to impact the Walt Disney Company, the United States, and the world; CEO Bob Chapek has just sent a memo to employees that him along with other top Disney Executives will be taking pay reductions. Per the memo, this is what the temporary pay cuts will look like:
- Vice Presidents: Salaries reduced by 20%
- Senior Vice Presidents: Salaries reduced by 25%
- Executives Vice Presidents and Above: Salaries reduced by 30%
- CEO, Bob Chapek: Salary reduced by 50%
- Executive Chairman, Bob Iger has chosen to forgo 100% of his salary.
These pay reductions will go into effect on April 5, 2020 for the foreseeable future.
Here is the full memo that was sent to Disney Employees impacted by the Coronavirus from Twitter user @ScottGustin:
Here is the full email sent to Cast Members: pic.twitter.com/WU6OXYXRRs
— Scott Gustin (@ScottGustin) March 30, 2020
Since the Coronavirus outbreak took over the world, Disney has closed of its theme parks and resorts, cancelled numerous Disney Cruise Line sailings, closed it’s retail stores, and stopped production on TV and movie sets. When things will open back up is yet to be seen.
When it was just announced last week that the domestic Disney Parks and Resorts would be closed indefinitely due to the Coronavirus, Disney did ensure that it’s employees would be paid until at least April 18, 2020.
Make sure to keep it here with MickeyBlog.com for all the latest on how the Coronavirus is impacting Disney.
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