Disney gives $1,000 bonuses to over 125,000 Employees, the company announced Tuesday. Disney also plans to make an initial investment of $50 million to help hourly employees with tuition costs, company chairman and chief executive officer Robert Iger announced Tuesday.
The company will also provide as much as $25 million annually to the program after this year.
Iger said that according to him education is the key to the opportunity that opens doors and creates new possibilities. This $1,000 bonus will definitely have an immediate and long-term positive impact.
Disney will pay a one-time $1,000 cash bonus to all full and part-time non-executive employees, who have worked at Disney since Jan. 1, and are based in the US.
The company said, “With this new plan, participants can pursue qualifying higher education or vocational training, including courses unrelated to their current responsibilities at Disney.”
With the help of new opportunities, employees can advance in their current roles or support their long-term career desire, the company stated.
Disney also noted that it will continue its current educational reimbursement program which is open to all full-time employees and the program will unchanged.
The company said that around 88,000 hourly employees will receive the education bonuses. The company also plans to work with union representatives. Disney also said it will work with union representatives as a part of potential distribution plans for employees currently working under existing union contracts.
Tuna Amobi, CFRA Research senior analyst said that it’s a great opportunity for the company to show they are responsive to their employees.