In a letter to Cast Members today, Disney CEO Bob Chapek announced that all senior executives at Disney will be taking pay cuts corresponding to how high up the corporate ladder they are.
Here’s a breakdown:
- Executive Chairman (Bob Iger) – 100% pay cut
- Chief Executive Officer (Bob Chapek) – 50% pay cut
- Executive Vice Presidents – 30% pay cut
- Senior Vice Presidents – 25% pay cut
- Vice Presidents – 20% pay cut
This action will “remain in effect until [Disney] see[s] a substantive recovery in [its] businesses.”
