As a result of the recent tax reform, Disney announced the company will be paying a one-time cash bonus of $1000 to 125,000 of its employees and making a $50 million investment into a new employee education program.
According to CEO Bob Iger, 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.”
The bonuses will be distributed in March and September to eligible employees in the U.S. Eligible workers include both full-time and part-time workers, employed prior to January 1. Executive level employees will are exempt.
Employee Education Program
The company said in a statement, “participants can pursue qualifying higher education or vocational training, including courses unrelated to their current responsibilities at Disney.”
The company notes, the employee education program will not affect Disney’s ongoing education reimbursement program.
The program will continue to be open to all full-time employees. The two initiatives will cost $175 million in the current fiscal year.