fb
Home WDW Tickets WDW Guide WDW News WDW Reviews WDW Articles



News

Disney Executives Take Pay Cut Due To Coronavirus Impacts

The top Disney executives are taking pay cuts as the Walt Disney company deals with the financial impact of the Coronavirus pandemic.


Disney Executives Take Pay Cut Due To Coronavirus Impacts

Disney executives are taking pay cuts as the parks are closed (and other parts of the business are put on hold) due to the current Coronavirus pandemic. Disney CEO Bob Chapek is reducing his salary by 50%, other executives are reducing their salary between 20% and 30%. Bob Iger, Disney's previous CEO, has agreed to give up 100% of his salary.

Currently, Disney is paying hourly based cast members up until April 18th. CEO Bob Chapek shared the below email with cast members about this move.

This is a trying period for all of us and as we navigate these challenging times together and make adjustments in our daily lives, we’re grateful for everyone’s continued flexibility and understanding.

The pandemic is also having a devastating impact on the global and U.S. economies, and it’s hurting businesses like ours exceptionally hard. In a matter of weeks, we’ve experienced widespread disruption across our company, with our domestic parks and hotels closed indefinitely, our cruise line suspended, our film and TV production halted and theatrical distribution delayed both domestically and internationally, and our retail stores shut down. While I am confident we will get through this challenging period together and emerge even stronger, we must take necessary steps to manage the short- and long-term financial impact on our company.

In light of this, 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 30%. I [Chapek] 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.

As we navigate the these uncharted waters, we’re asking much of you and, as always, you are rising to the challenge and we appreciate your support. Your dedication and resilience during this difficult time are truly inspiring, and it gives me renewed confidence that we will come through this crisis even stronger than before, as we have so many times in our company’s history.


Flights Cheap Orlando Flights Search >>

Tickets 2020/2021 Ticket Guide & Deals >>

Halloween Party Tickets 2020 >>

Join the Mickey From The UK email club & never miss any of our Disney content
Tick the box to confirm you want to opt into our emails
(Your email will never be shared, sold or spammed as outlined in our privacy policy. Only Disney goodness you'll receive.)

This article was posted on 30-Mar-2020
Please share this article using the buttons below.

            submit to reddit

Read Next  View More >
More After Hours Dates Released For Magic and Animal Kingdoms Last Chance For Free Disney World Dining Offer Photopass To Come To Haunted Mansion Ear Headbands Increase In Price Across Disney Parks

Mickey From The UK
UK Disney World Community
Who Are We?

Flights Cheap Orlando Flights Search >>

tickets 2020/2021 Ticket Guide & Deals >>

Halloween Party Tickets 2020 >>


Facebook Facebook Twitter Instagram

Recent News
  • Universal Studios Orlando To Officially Reopen June 5th
  • Universal Studios Orlando Plans To Reopen June 1st
  • Disney Cancels Stays And Removes Park Hours Through June 13
  • Disney Adds Disclaimer Stating Not Responsible For You Catching COVID-19
  • Face Mask Requirement And Temperature Checks Coming To Disney Springs

  • Product Reviews  View More >
  • Donald Duck 85th Limited Edition Plush Review
  • Disney Traditions Jim Shore Mickey The True Original
  • Disney Traditions Jim Shore Mickey Takes The Lead
  • Looking Back Over The Mickey Memories Collection
  • Swarovski Mickey Mouse Celebration

  • Disney World Reviews  View More >
  • Mama Melrose Ristorante Italiano Hollywood Studios Review
  • TUI Review
  • Boathouse At Disney Springs Review
  • Garden Grill Breakfast And Lunch Review
  • Ohana Review

  • Q&A  View More >
    Have a question? Ask us here!

    Popular Questions
  • Can I Upgrade My Free Quick Service...?
  • How do we get to the Super Target s...?
  • Can I Buy A Disney World Annual Pas...?
  • What forms of ID are accepted?
  • What Happens When My Disney World P...?


  • MickeyFromThe.UK is an unofficial Walt Disney World fan and information site.
    MickeyFromThe.UK is an online British guide to visiting the Walt Disney World Resort in Orlando, Florida.
    © MickeyFromThe.UK . All Rights Reserved. Content cannot be reproduced without permission.

    About    Contact Us    Advertising/Reviews/Sponsorships    Report Error    Terms    Disclaimers    Privacy    RSS Feeds