During this trying time for all with the outbreak of COVID-19, hardships are being felt everywhere. The Walt Disney Company has now announced that the senior executives are all going to be taking pay cuts during the temporary closures of the parks to help with the issues happening all around the world.
An email was sent out to call Cast Members by Bob Chapek on Monday morning, and it detailed just what was going on. In the message, he expressed his sympathy for the hard times that everyone is going through and also let it be known that the senior executives of The Walt Disney Company would be foregoing a lot of their pay during this trying time.
Salary cuts for these Cast Members/Executives will go into effect as of April 5, 2020.
Bob Iger is going to be giving up 100% of his salary while Chapek will have a 50% reduction in his pay during the temporary closure. Others taking pay cuts include:
- VPs by 20%
- SVPs by 25%
- EVPs by 30%
Chapek did confirm that the pay cuts for the senior executives are only temporary and that things are not going back to normal until the company has a “substantive recovery.”
See Also:
- Walt Disney World Resort Closing On Sunday Through The End Of March Due To Coronavirus Concerns
- Disneyland Parks Closing On Saturday Through The End Of March Due To Coronavirus Concerns
- Disney Cruise Line Suspending All New Departures Starting March 14 Through End Of The Month
- Universal Orlando Resort And Universal Studios Hollywood Closing Amid Threat Of Coronavirus
- Walt Disney World Releases Additional Details Regarding Closure – Annual Passes, Refund Policies, More
- Walt Disney World College Programs Ending Early Due To Coronavirus Closures
- Disney Cruise Line Sailings Through April 12, 2020, Removed Due To Coronavirus Threat
- Walt Disney World Resort Hotels, Disney Springs, Downtown Disney, And Disney Stores All Closing This Week Due To Coronavirus Threat
- All Walt Disney World Transportation To Be Temporarily Suspended Due To COVID-19 Threat And Closures
- Photos Of Empty Florida Theme Parks On First Day Of Temporary Closures – Epcot, Hollywood Studios, Universal Studios, More
- Universal Orlando Closing Resort Hotels And CityWalk This Week Due To Coronavirus Threat
- All Construction Work At Walt Disney World Ceases Operation During Temporary Closure
- runDisney Cancels Star Wars Rival Run Weekend Due To Threat Of Coronavirus
- Universal Orlando Extends Closure Of Theme Parks And CityWalk To Mid-April
- FREE DINING Discount Now Available For Those Who Had Walt Disney World Trips Affected By Coronavirus
- Walt Disney World Only Allowing New Reservations Beginning June 1, 2020, Due To Temporary Closure
- Disney Cruise Line Extends New Departure Suspensions Through April 28, 2020
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