The Walt Disney Company decided to give its employees a one-time cash bonus of $1,000 due to the GOP tax reform. The mass media and entertainment conglomerate said more than 125,000 employees across the country will receive the bonus.
It is the latest among the U.S. big companies that have been distributing bonuses to employees after President Donald Trump signed into law the Tax Cuts and Jobs Act. Some of these companies included AT&T, Bank of America, Boeing, Comcast, Walmart, and Wells Fargo.
In addition, Disney will launch a new education program for its hourly workforce in the United States. The corporation will make an initial investment of $50 million to the program. After that, it will provide an annual funding of $25 million going forward.
Almost 88,000 hourly employees will be eligible to take advantage of its education program. They can pursue qualifying higher education or vocational training including courses unrelated to their jobs at Disney.
Disney’s new education program will help its employees advance their current roles or support their long-term career ambitions.
Disney will distribute the $1,000 bonus in two payments
In a statement, Disney Chairman and CEO Bob Iger said, “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.”
