Disney has furloughed 100,000 workers, while top executives will still get big bonuses
The salary declination is a brilliant public relations move; however, it's somewhat disingenuous and conveniently leaves out an important fact—the two executives will still accept massive bonuses and long-term incentives that dwarf their salaries. Iger earned about $65.6 million in 2018 and $47 million last year. To put this number into perspective, it's 900 times higher than the median Disney worker’s earnings.
She strongly feels that the company was mismanaged in not planning ahead for adversity and previously enacting a stock buyback program, which enhanced the value of the top executives’ total compensation.went on a Twitter storm criticizing Iger’s $65 million compensation in 2018. In a piece for the, she wrote, “It’s time to call out my family’s company—and anyone else rich off their workers’ backs.
We are currently seeing this play out with other companies too. Congress passed a multitrillion-dollar stimulus package that bailed out a number of poorly managed companies that should have been allowed to seek bankruptcy protection. Instead of saving money for any potential disasters, they squandered billions of dollars of exorbitant bonuses and buying back stock, which pushed their respective company’s stock share prices higher. This action highly inflated the value of executive stockholdings.
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