The Walt Disney Co. said on Monday that executive chairman Robert Iger will forgo his entire salary and recently named CEO Bob Chapek will take a 50 percent pay cut to his base salary amid the coronavirus pandemic. (THR)
Starting April 5, all vice presidents at the company also will have their salaries trimmed by 20 percent, while senior vice presidents and executive vice presidents will see their pay slashed by 25 percent and 30 percent, respectively. (New York Post)
Disney has warned of the adverse material impact of the virus on its business operations with theme parks closed, sports events canceled, production halted and advertising taking a hit. (Deadline)
Disney has committed to continuing paying its hourly parks employees through at least April 18. (Variety)