Walt Disney Co. executives will take a pay reduction according to reports

Mar 30, 2020 in "The Walt Disney Company"

Reportedly, Walt Disney Co. executives will be taking a reduction in salaries as the company battles the impacts of the coronavirus.

According to a letter sent to some employees,  CEO Bob Chapek will allegedly take a 50% pay cut, Executive Chairman Bob Iger a 100% pay cut, VP's 20%, SVP's 25%, and EVPs 40%.

Bob Chapek's basic pay as CEO is around $2.5 million, and he is also eligible for an annual target bonus of “not less than 300% of the annual base salary.” It isn't clear which pay cut the 50% relates to.

Pay cuts will be in place until there is a substantive recovery in the business.

The company is facing numerous challenges as the theme parks look to be closed for at least another month following their mid-March shut-down due to the spread of coronavirus.

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Article Posted: Mar 30, 2020 / 11:39am ET
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sullivan.kscott3 minutes ago

I think that's why we see RCI in Asia trying something, and Carnival brands in Europe. DCL can wait a few months, and likely won't be the first to let guests across the gangway here in the US. They may not be far behind (a la UOR/SW and WDW), but they're not going to be the trendsetter. NCL recently had a casting call for theater shows, DCL is still quiet. The thing going for the cruise lines is their coopetition of sorts with CLIA and the sharing of info, so that they can bounce ideas off each other and be on one (relative) footing from an offerings standpoint. And I agree, the skirting of the passenger vessel act and all that all lines do to largely avoid US tax and labor law puts them below the bottom rung of deserving bailouts (beyond whatever US support, officers, and crew did lose employment through no fault of their own).

Sirwalterraleigh10 minutes ago

Disney can wait...not sure about the bigger players though. Not without substantial bailout help...and unfortunately they don’t really deserve it.

sullivan.kscott16 minutes ago

Probably not at this point. Might as well wait it out. At least for the adults/12+/16+ (whatever the authorized age ends up being). Even at that point, the amount of people on board below that age threshold is pretty low as a % even on Disney, greatly reducing the risk of an outbreak.

Sirwalterraleigh29 minutes ago

I’ll help you out here: “Every hoaxer was wrong...every...single...one”

BrianLo39 minutes ago

I'm going out on a limb that the cruise industry can't resume until they can ask for proof of vaccination (and have their crew vaccinated). Or near to it. I still expect at least one more delay, maybe with half-hearted attempts to resume May 1 or real attempts July 1.

DisneyDebRob51 minutes ago

After reading your post I thought immediately of one of my favorite concert DVD’s from the Talking Heads..”Stop Making Sense”.

MisterPenguin57 minutes ago

Hey. Remember when people belittled catching COVID because you need a certain imagined viral load and you're probably not going to reach that threshold regularly? Now, that may be true, but the 'novel' in the 'novel coronavirus' meant no one could know yet what the viral load is needed to get infected. Well, anyway.... if positivity and number of cases is spiking everywhere, then your chance of hitting that viral load threshold (whatever it is) has just increased. Be outside in a crowd of 100 people and not worry if one person has COVID? Sure, take that risk. Now, would you take that risk if 12 of them had COVID? The number of times one gets exposed -- because more and more are infected -- the more likely you get it. That's why a "mask all the time" policy is necessary. Viral load is doubling, tripling, quadrupling...

DisneyDebRob1 hour ago

I have to admit that over the last 8-9 months I have been enjoying my space. When someone is within 10 feet I’m giving them the eye. 🙂 Little exaggeration there but you know what I mean I would not mind that at all. Just me and the shrubbery folks(Monty Python) floating around the place.

Sirwalterraleigh1 hour ago

You mean if they both looked like that when only custodial/horticulture is trolling around in the middle of the night??

DisneyDebRob1 hour ago

Ok, now I would go.

Sirwalterraleigh1 hour ago

I don’t think it’s a forgone conclusion that people HAVE to disagree In my years swimming the “ocean” of internet disfandom...I’ve often noticed common ground and changes to people and their takes over the years. It’s a sign of maturity/wisdom...more ears and less vocal cords often works.

Sirwalterraleigh1 hour ago

I assume it means: 1. Don’t go into spaces in crowds unprotected. 2. Avoid places with crowds that aren’t necessary to be in.

DisneyCane1 hour ago

You're welcome! Maybe things are going to get better in the world. First, I had several agreements with @GoofGoof yesterday and now today we've had a cordial exchange! :) Anybody that has read a lot of my posts would certainly conclude that on their own. I wanted to be up front and clear for anybody who hasn't since I was commenting that not very many Trump supporters would actually refuse a vaccine out of spite over an election result.

DisneyDebRob1 hour ago

It’s coming.. just wait a few seconds.