Disney executes anger at ‘temporary’ coronavirus pay cuts

0
83


Disney executives are angry at having to sign new “temporary” contracts cutting wages by up to 30% with no end date – even if company president Bob Iger increases his salary and the CEO takes him over- even a 50% reduction.

Disney vice presidents typically earn between $ 150,000 and $ 200,000 in base salary while executives often earn $ 700,000 or more, according to the Hollywood Reporter. Many workers at the company are facing a work stoppage following the pandemic that ended the company’s parks and delayed the premiere of the films.

Several sources told the media that a battle had broken out between the senior and lower ranks. Employees were particularly upset that they only had two days to sign new amended contracts without a specified end date.

“Much of society has stopped because of this pandemic, and for these people to complain about so much suffering in the world is just incredibly selfish and sad,” a source at Disney told THR.

Disney tried to point out that Iger was giving up his car allowance for this indefinite period, but that did not appease employees who know that the major part of its income, which comes from bonuses and stock options , will remain unchanged.

LEAVE A REPLY

Please enter your comment!
Please enter your name here