Trump Made Disney A GROTESQUE Amount Of Money
February 18, 2018
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6:10Now PlayingTrump Made Disney A GROTESQUE Amount Of Money
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as posted by the channelIn this Majority Report clip, Sam Seder talks about how Disney is spending their tax windfall.
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"Walt Disney Co. will dole out $1,000 one-time cash bonuses to more than 125,000 employees and invest $50 million into an employee education program.
The Burbank, California-based studio said Tuesday that the move was made possible by the recent tax reform bill.
The bonuses will be handed out to both full-time and part-time employees who have been working for Disney (NYSE: DIS) since the end of 2017.
The perk will be split into two payments, half will be given to employees in March, the other half in September. Executive-level employees are exempt from the bonuses.
The Mouse House joins other major companies granting bonuses in the wake of the latest tax bill. Walmart, Bank of America, Boeing and AT&T are among those who have passed on tax benefits on to staffers.
The company also announced a new education initiative for its 88,000 hourly U.S. workers. Participants in the program can take higher education classes or vocational training, “including courses unrelated to their current responsibilities at Disney," per the company statement.
"I have always believed that education is the key to opportunity; it opens doors and creates new possibilities. Matched with the $1,000 cash bonus, these initiatives will have both an immediate and long-term positive impact," CEO Bob Iger said in a statement."
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