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Disney Executives Mad Over Pay Cut as Thousands of Staff Are Furloughed

Disney executives at the VP, senior VP and executive VP level are upset that the 20 to 30 percent salary cuts were decided unilaterally with no deadline to bring them back up.

Disney executives are on a warpath after being told their paychecks would be cut by as much as 30 percent due to the global coronavirus pandemic, which has closed all of their global amusement parks. The cut affects those at the senior to executive vice president levels, who make between $200,000 and $700,000 annually. The Hollywood Reporter reports that execs are upset that the cuts were decided unilaterally, have no end date, and they were given only two days to sign them. The move comes as thousands of lower level Disney employees “whose jobs aren’t necessary at this time” will be furloughed beginning April 19. Chairman Bob Iger said he will forgo his entire salary of around $3 million annually and his newly-named CEO Bob Chapek will take a 50 percent reduction to his base salary as part of the emergency measures.