A large number of executives over at The Walt Disney Company and Fox Corporation are getting their checks reestablished to pre-COVID-19 levels.
Disney execs took the cuts a few months back and now according to Deadline, The Disney temporary salary reductions, which had been open-ended, will be lifted starting Sunday. The impacted executives from both companies were recently notified in internal emails.
Read: Bob Iger Will Forgo His Salary, Fellow Disney Execs To Take Pay Cuts
Changes will be reflected in the executives’ next paychecks. It is unclear whether the pay restoration would impact Chairman Bob Iger and newly appointed CEO Bob Chapek. The salary cuts were meant to be temporary, and were to remain in effect until the company saw “a substantive recovery in business.”
As expected from the shutdown of all Disney theme parks and resorts, results from the company’s ongoing Q3 profit call were dreary, with a memorable $2 billion detailed in income misfortune from the organization’s Parks, Experiences and Products division. In any case, Walt Disney World is working at a pitiful benefit, or in any event, surpassing variable expenses, as per CEO Bob Chapek. All things considered, a huge number of Cast Members, including entertainers, occasions staff, and that’s only the tip of the iceberg, are still furloughed as of now because of restricted park hours and activities.
Source: Deadline
About Post Author
