Disney’s newest SEC submitting has revealed that whereas the leisure juggernaut laid off hundreds of workers in 2020, their prime two executives earned a complete of $35 million in 2020.
The Orlando Sentinal studies that CEO Bob Chapek was paid $14 million whereas Govt Chairman Bob Iger earned $21 million in 2020 as Disney+ skyrocketed to recognition.
In December, Disney reported that its year-old streaming service has hit almost 87 million subscribers.
Nonetheless, the 2 executives won’t obtain bonuses this 12 months, the outlet studies, as the corporate took a serious hit because of the coronavirus pandemic, which nearly shut down movie manufacturing and releases for a time, in addition to closed doorways and restricted capability at theme parks, a serious moneymaker for the group.
DISNEY’S IGER AND CHAPEK LOSE BONUS PAYMENTS DUE TO PANDEMIC
In 2019, Iger earned $47.5 million, 56% increased than 2020. Chapek changed Iger as CEO in Feb. 2020.
Final summer season, the executives introduced that they’d be taking a pay reduce. Per the outlet, Chapek took a brief 50% pay reduce and Iger forewent his wage for the remainder of the fiscal 12 months.
COVID-19 DELAYS DISNEYLAND PARIS REOPENING–AGAIN
The outlet studies, citing the SEC submitting, that Chapek’s wage in addition to 4 different executives — who had taken momentary 30% cuts — had their base salaries restored again in August.
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In November, it was revealed that the Walt Disney Co. was growing the variety of workers it was shedding by some 4,000 – principally in its theme parks – bringing the whole to 32,000, because the leisure large continues to struggle coronavirus closings and limits because of the pandemic.
Fox Enterprise’ has reached out to Disney’s reps for remark.