Disney Is Giving Employees Cash Bonuses and College Tuition Program, Citing Trump’s Tax Cuts

Disney announced Tuesday it will pay over 125,000 employees a one-time cash bonus of $1,000, as well as a new education initiative for employees thanks to the Tax Cuts and Jobs Act of 2017.

“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,” CEO Bob Iger said in a statement.

All full-time and part-time non-executive employees who have been with Disney in 2018 will be eligible for the bonus and will receive it in two installments, in March and September 2018.

In addition to bonuses, the corporation has also pledged a $50 million investment into a college tuition program. It will start for the fall semester of 2018. The company will cover their initial investment yearly. Nearly 88,000 hourly employees are reportedly eligible for the program.

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Disney says the two initiatives will cost $175 million in the current fiscal year.

 

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