[US] The Walt Disney Company fully restore senior executive salaries

24 AUG 2020

To help mitigate the impact of the COVID-19 crisis on the company, Disney announced that Senior Executives for The Walt Disney Company would be taking salary cuts during the theme park pandemic safety shutdown. The executives’ full salaries are now being restored while for thousands of Cast Members furlough continues. (Link via original reporting)

In March, an email from Bob Chapek reportedly informed employees that all senior executives would have their pay reduced throughout the closure period. Mr Chapek’s salary was reduced by 50 per cent while Bob Iger agreed to give up 100 per cent of his salary. Additionally, decreases in pay for SVPs, EVPs, and VPs were enacted. VP salaries were cut by 20 per cent, SVPs by 25 per cent and EVP by 30 per cent. These salary cuts - which began on April 5 - came to an end yesterday. WDW News Today has all the details of this breaking news story.


Check out all of Global Payroll Association's News HERE!