Disney has joined a growing list of companies that have offered employees cash bonuses after the passage of tax reform legislation in Congress.
Walmart, Comcast, Southwest Airlines, AT&T and the home of Mickey Mouse are reaping the benefits of tax reform signed into law by President Trump. Disney CEO Bob Iger announced Tuesday that 125,000 employees will soon receive a $1,000 bonus.
“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,” Mr. Iger said in a statement. “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.”
Unlike other CEOs, however, Mr. Iger did not explicitly attribute the bonuses to tax cuts touted by the president.
The Hollywood Reporter also noted that Disney will make a $50 million initial investment in a college tuition program for 88,000 hourly employees.
“Disney will keep the initiative going with up to $25 million annually,” the magazine reported. “The new program is in addition to an existing one that offers reimbursements to full-time employees taking college courses.”
The decision, which pertains to full- and part-time non-executive employees, comes just weeks after House Minority Leader Nancy Pelosi labeled such bonuses ” crumbs” during a weekly press conference.
“In terms of the bonus that corporate America received versus the crumbs that they are giving workers to kind of put the schmooze on is so pathetic. It’s so pathetic,” the California Democrat said Jan. 11 after an announcement by Walmart.
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