Disney Execs Take Voluntary Pay Cuts Due to Closures

Disney Execs Take Voluntary Pay Cuts Due to Closures 1

As everyone knows Disney parks around the world are currently closed due to the Covid-19 Pandemic. As a result, cast members everywhere are home from work but are currently being paid. This morning the Walt Disney Company announced that top execs are taking pay cuts for the greater good of the company and such during these challenging times. Bob Chapek said the following-

We are going to be implementing a variety of necessary measures designed to better position us to weather these extraordinary challenges. Among them, we will be asking our senior executives to help shoulder the burden by taking a reduction in pay – effective April 5, all VPs will have their salaries reduced by 20%, SVPs by 25%, and EVPs and above by 30%. I will be taking a 50% reduction in my salary. This temporary action will remain in effect until we foresee a substantive recovery in our business. Our executive chairman, Bob Iger, has chosen to forgo 100% of his salary.

Last week Disney announced that the parks are closed until further notice. We have no dates regarding when we will see the parks re-open again but we are watching. Please stay tuned for more updates as we see them and please take care of yourselves during this difficult time.

Michele
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Michele

Michele Atwood is the Owner/Editor of The Main Street Mouse and it’s subsidiaries and author of the books “Moving to Main Street U.S.A.” “How Many Sleeps Till Disney?” and “How Many Sleeps Till Disneyland?” Michele also contributes Disney news to the Joe Kelley Morning Show on 107.3 WDBO in Orlando. She and her family made the move from Michigan to the Orlando area to pursue their Disney dreams. Michele is a life long Disney fan, and has two sons who have followed suit, each going on their first Disney trip before their first birthday’s. Part of the goal Michele has for The Main Street Mouse is not only to keep members informed, but to create somewhat of a Disney Family by relating to others through personal experiences and opinions. Also, Michele is making it a priority to share stories of inspiration and hope to other Disney Fans in an effort to share the Magic and hopefully make a difference in the lives of others. ~ I enjoy writing personal perspective blogs, doing TMSM Meet Ups for our readers, and keeping the constant interaction going with others, sharing the Disney Magic to people when they can’t be at their Happy Place.

Michele has 5795 posts and counting. See all posts by Michele

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