The Walt Disney Company is looking to give back to those that make it one of the most successful in the world, and that is by paying them for all they do. On Tuesday that Robert Iger, chairman and CEO of The Walt Disney Company, announced that more than 125,000 eligible employees are going to receive a one-time $1,000 cash bonus. On top of that, Disney will bring forth a new educational reimbursement program in the form of $50 million.
Yes, the “House of Mouse” wants to give back to those that do things for them in the parks, in movie departments, at the resorts, and anywhere that Disney employs. The official website of The Walt Disney Company revealed the news of the two new initiatives that will represent a total allocation of more than $175 million in just this fiscal year alone.
Bob Iger said is looking to not only congratulate their cast members and employees but also contribute to their future.
“I am proud we are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program. I have always believed that education is the key to opportunity; it opens doors and creates new possibilities. Matched with the $1,000 cash bonus, these initiatives will have both an immediate and long-term positive impact.”
Not all employees of The Walt Disney Company are eligible for the $1,000 cash bonus, but here are the requirements for those that are.
- All full and part-time non-executive employees – Hourly or salaried
- Have been with the company since at least January 1, 2018
- Based in the United States
The bonus will be paid out in two parts with the first coming in March and the second in September of this year. Disney is going to work with union reps regarding the distribution of the bonuses to those who work under any union contracts currently in place.
Earlier this month, Universal Parks and Resorts had revealed that they were handing out $1,000 bonus payments to numerous employees. The successful year in 2017 allowed for the company to present its team members with a little bit extra.
As for Disney’s new education initiative, it will be aimed at the nearly 88,000 hourly employees in the United States. Participants can go after qualifying higher education or vocational training which includes courses that are not related to their responsibilities at Disney.
After providing the first investment of $50 million to higher education for its employees, Disney will contribute another $25 million in the future.
The Walt Disney Company is looking to give back to its employees and cast members which is why these $1,000 cash bonuses and education reimbursement programs have been put in place. There are hundreds of thousands of employees working to deliver the magic to guests daily, and this one way that Bob Iger and company are looking to thank them.