Home » How to Invest » Disney heir criticises $1.5bn in bonuses and dividends as company cuts pay

Disney heir criticises $1.5bn in bonuses and dividends as company cuts pay

 

Abigail Disney strikes out at executive payments while personnel weather condition coronavirus effect

A beneficiary to the Walt Disney fortune has actually criticised the business for securing executive perks and dividends of more than $1.5 bn ( 1.2 bn) while cutting the pay of more than 100,000 employees to assist weather the monetary effect of coronavirus.

Abigail Disney, an Emmy acclaimed film-maker and a granddaughter of the business’s co-founder Roy Disney, introduced a Twitter tirade versus the world’s greatest home entertainment group over its treatment of staff members.

Disney, who in the past has criticised the profitable pay plans of the executive chairman, Bob Iger, stated the $1.5 bn in normal dividend payments would keep personnel spent for months.

“That ‘d spend for 3 months’ wage to frontline employees,” she stated. “And it’s going to individuals who have actually currently been gathering outright rewards for several years. Dividends aren’t all bad, provided the variety of fixed-income folks who count on them. Still 80% of shares are owned by the most affluent 10%. Pay individuals who make the magic occur with regard and self-respect they have actually more than made from you. This business should do much better.”

https://t.co/G1mUq7RmAV

April 21, 2020

Top Disney executives have actually made income sacrifices to “much better allow the business to weather the amazing company obstacles”. Iger quit the rest of his$3m income for this year, while Bob Chapek, who just recently changed Iger as president, will give up half his$2.5 m base pay.

“Salary is a drop in the container to these men,”Disney tweeted.”The genuine payday remains in the remainder of the plan.”

The business has actually secured those profitable reward plans. Iger made an overall of$ 65.6 m in 2018

and$47m in 2015. His most current plan is more than 900 times that of the average Disney employee’s profits, which stands at about$52,000.

Read more: https://www.theguardian.com/film/2020/apr/22/disney-heir-criticises-company-over-15bn-bonuses-cuts-pay

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