The Walt Disney Company can only be as great as its Cast Members and they plan to show their appreciation. Bob Iger, Chairman and Chief Executive Officer at The Walt Disney Company, announced today that the company will be issuing a one-time $1,000 cash bonus to 125,000 cast members.
All full and part-time non-executive employees who have been with The Walt Disney Company since January 1, 2018 and are based in the United States will receive the bonus. The $1,000 will be paid out in two installments, the first in March and the second in September of this year.
The Company will also be launching a new $50 million higher education initiative. Nearly 88,000 hourly employees will be eligible to pursue higher educational and vocational training, including courses unrelated to their current responsibilities at Disney.
“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,” Iger said. “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.”
This news comes after Universal Parks & Resorts issued $1,000 bonuses to their employees earlier this month.