Abigail Disney has spoken out against Disney’s decision to furlough lower-paid employees after ensuring executives got paid.
Disney, who is the granddaughter of Walt Disney’s brother Roy Disney, took to Twitter to slam the decision for theme parks to furlough workers after paying executives bonuses and dividends to shareholders.
WHAT THE ACTUAL F***????? Look, 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%. So that excuse only goes so far. But the REAL outrage is, of course, those bonuses…2/
— Abigail Disney (@abigaildisney) April 21, 2020
“WHAT THE ACTUAL F***?????” Disney tweeted. “Look, 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%. So that excuse only goes so far. But the REAL outrage is, of course, those bonuses…”
The tweet came in response to an article published by the Financial Times claiming Disney was to stop paying 100,000 workers, which amounts to half of its workforce, in order to cut costs by an estimated $500 million per month.
The furloughs also come after Bob Iger gave up his salary and Bob Chapek, plus other executives, took a 50% pay cut. (RELATED: REPORT: Bob Iger To Forgo Salary, Top Disney Executives Take Pay Cuts Amid Coronavirus Crisis)
Disney said she was “quiet” in March when the top executives gave up their salaries because the salary is a “drop in the bucket.”
“Mr Chapek could potentially earn an annual bonus ‘of not less than 300 per cent’ of salary, in addition to a long-term incentive award of ‘not less than $15m,'” Disney shared.
“I told people to wait until we heard about the rest of the compensation package, since salary is a drop in the bucket to these guys,” Disney said in the thread. “The real payday is in the rest of the package By design because it is taxed differently.”
