Disney has just announced today that they will pay at least 125,000 employees a one-time cash bonus of $1,000 and that they’ll also make a $50 million investment into a new education program for their employees.
As a result of the recently enacted tax reform, 125,000 Disney employees to receive $1,000 cash bonus and Company launches new $50 million higher education program: https://t.co/79MVup6n3m
— Walt Disney Company (@WaltDisneyCo) January 23, 2018
Disney Chairman and CEO Bob Iger said in a statement,
“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.”
CNBC reports that the bonus will apply to any full-time and part-time employees who have worked for Disney prior to January 1. The eligible employees and Cast Members will receive the bonus in two parts; one in March and the other in September with executive level employees being exempt.
Disney’s new education program will be accessible to approximately 88,000 hourly employees in the United States.
“Participants can pursue qualifying higher education or vocational training, including courses unrelated to their current responsibilities at Disney,” a Disney spokesperson said in a statement.
This new program will reportedly not affect Disney’s ongoing education reimbursement program which will remain open to all full-time employees.