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Disney execs are angry about having to sign new “temporary” contracts reducing their pay up to 30 percent with no end date — even though company chairman Bob Iger is passing up his entire salary and the CEO is taking a 50 percent cut himself. Vice-presidents at Disney usually earn between $150,000 and $200,000 in …
Disney execs are angry about having to sign new “temporary” contracts reducing their pay up to 30 percent with no end date — even though company chairman Bob Iger is passing up his entire salary and the CEO is taking a 50 percent cut himself.
Vice-presidents at Disney usually earn between $150,000 and $200,000 in base pay while senior execs often earn $700,000 or more, according to the Hollywood Reporter. Many of the companies workers are facing furlough in the wake of the pandemic shuttering the company’s parks and delaying movie premieres.
Multiple sources told the news outlet a battle has broken out between top brass and those at lower levels. Employees were especially upset they were given just two days to sign the new, amended contracts with no end date specified.
“Much of the company has ground to a halt because of this pandemic, and for these people to complain in the face of so much suffering in the world is just incredibly selfish and sad,” a source at Disney told THR.
Disney tried to point out Iger is giving up his car allowance during this unspecified period but that didn’t appease employees who know the bulk of his income, which comes from bonuses and stock options, will remain untouched.
