Senior Executives Of The Walt Disney Company Taking Serious Pay Cuts Due To Temporary Closures

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.

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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.”

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