After the dramatic economic crisis that was caused by the novel Coronavirus Pandemic, Disney’s top management cuts its own compensation to further finance salaries to workers. Disney CEO Bob Iger is committed to giving up 100% of his own income. This includes Disney. In a letter to our employees, the new CEO Bob Chapek also said:
“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.”
See Disney’s full statement below:
New Disney measures: Iger foregoing 100 percent salary, Chapek reducing salary by 50 percent until “substantive recovery” in Disney business. pic.twitter.com/055wOHaDsi— Julia Alexander (@loudmouthjulia) March 30, 2020
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Source Credit: Comicbook.com