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

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

Mark Sweney
Wed 22 Apr 2020 05.24 EDT


An heir to the Walt Disney fortune has criticised the company for protecting executive bonuses and dividends of more than $1.5bn (£1.2bn) while cutting the pay of more than 100,000 workers to help weather the financial impact of coronavirus.

Abigail Disney, an Emmy award-winning film-maker and a granddaughter of the company’s co-founder Roy Disney, launched a Twitter tirade against the world’s biggest entertainment group over its treatment of employees.

Disney, who in the past has criticised the lucrative pay packages of the executive chairman, Bob Iger, said the $1.5bn in typical dividend payouts would keep staff paid for months.

“That’d pay for three months’ salary to frontline workers,” she said. “And it’s going to people who have already been collecting egregious bonuses for years. Dividends aren’t all bad, given the number of fixed-income folks who rely on them. But still 80% of shares are owned by the wealthiest 10%. Pay the people who make the magic happen with respect and dignity they have more than earned from you. This company must do better.”

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