Walt Disney Company executives, who took a temporary paycut in the beginning stages of COVID-19, were told today that their paychecks will soon be restored to what they were pre-pandemic. The company’s temporary salary reductions will be lifted starting August 23, according to Deadline.
Disney implemented pay cuts as a cost-cutting measure early in the pandemic, announcing on March 30 that “effective April 5, all VP’s will have their salaries reduced by 20%, SVPs by 25%, and EVPs and above by 30%,” with Disney CEP Bob Chapek taking a 50% reduction and executive chairman Bob Iger forgoing 100% of his salary. There was no end date set at the time.
Reps for Disney did not respond to request for comment on the matter when Deadline reached out to them.
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