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DISNEY HAS ANNOUNCED that it will give over 125,000 of its employees a one-time cash bonus of $1,000.
All non-executive employees, either full-time or part-time, who have been with Disney since January 1 this year will receive the windfall as long as they are based in the United States.
Another $50 million is being invested in education programmes aimed at the company’s 88,000 hourly employees who want to pursue higher education or vocational training.
A further $25 million will be invested in the programme each year after the initial investment.
Disney says both of the moves are a result of recent tax reform. Several other high-profile American companies including Walmart, Bank of America, Crysler and Comcast have passed on a portion of their tax savings to employees.
“I am proud we are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program,” CEO Bob Iger said in a statement.
I have always believed that education is the key to opportunity; it opens doors and creates new possibilities. Matched with the $1,000 cash bonus, these initiatives will have both an immediate and long-term positive impact.
The bonus will be paid in two installments in March and September this year. The two initiatives will cost Disney a total of $175 million in the current fiscal year.
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Another win for Trump
Does he work for Disney?
@Larry Doyle: Did he bring in tax reform?
@No One: the tax reform that made him personally one billion through his own companies? Yes he did.
@B9xiRspG: Win win so
@No One: Did he release his tax returns?
@Larry Doyle: yea he’s goofy
@B9xiRspG: Is he the only one to benefit from the tax reform or are you suggesting that he shouldn’t benefit from it because he is the President? Perhaps you would prefer that the tax reform should be reversed because Trump allegedly will benefit by $1 billion but I dare say that 125,000 workers in Disney won’t thank you for it!
@Larry Doyle: No but then again he doesn’t have to release them. What does that have to do with tax reform anyway? Goldman Sachs reckon that about $250 billion in offshore funds will be brought back into the economy which is a good thing. People seem to want to cut off their nose to spite their face in whining about Trumps tax affairs.
@Mumpsimus: a once off payment is cheap… what about a permanent wage increase???
@No One: and nobody in the government has any connection to Goldman Sachs of course, and GS have also never gotten anything wrong
@Dave O Keeffe: http://uk.businessinsider.com/trump-tax-reform-plan-repatriation-14-us-companies-with-most-cash-overseas-2017-9?r=US&IR=T/#see-also-14
“By Goldman Sachs’ calculation, S&P 500 companies hold $920 billion of untaxed overseas cash, and the firm estimates that $250 billion of that would be repatriated. Looking at all US-based companies, Citigroup says there’s a whopping $2.5 trillion of capital stashed internationally.”
You could be right, GS have probably underestimated the potential amount that could be repatriated. Thanks for pointing that out!
@James Maloney: They’ve just paid 125 million to their employees. Is that not enough?
@Larry Doyle: no one cares
@B Gaffn: Larry might have a breakdown when Trump wins again in 2020
@No One:Trump and his kids make a huge windfall out of this tax scam,and the people should be happy as they get a $1,000 bonus.Bless.
What are people about to lose because of this bonus ?
Wow,this sorta stuff does Trump big favors
@Gooney: it dies and it’s exactly how the plan is supposed to work, but if it was working that way in every instance it wouldn’t be news that Disney were doing it would it?
@Gooney: So far two million US workers will receive bonuses thanks to Trumps tax reforms. It’s news that Disney are doing it because it’s Disney. Here is a list of the hundreds of organisations already signed up.
@JimmyMc: how many employees low and mid income employees are there in America again? Also, it’d probably be a good idea to subtract owners and CEOs from that list
Disney are not alone in this regard. President Trump is delivering for the American worker.
@Fake Avast: What?
@Leroy: Ask Hilary
@Fake Avast: Most Trump fans don’t have jobs.. the few that do are in Walmart.
So a recently enacted tax reform puts more money in workers pockets,, so more money for people to spend just might mean more purchases, which just might lead to growth in business which just might lead to more jobs,, what genius figured this out……
That’s 125,000 votes right there in one company!, next.
@Markonline: eh no, Trump didn’t give them the money. Trump gave their employers the money and they gave it to the workers of their own free will.
@Fake Avast: I made no such statement, as I’ve said in reply to someone else this was what he said the cuts were for but it’s entirely up to the rich folk he has given the money to to make up their own minds on what to do with their bonus.
@Fake Avast: my point is he could have given them the money directly very easily. Instead he has actually given it to wealthy and given a bit while taking a bit from the lower and middle classes. Hoping the wealthy are feeling generous isn’t enough
@Dave O Keeffe: its called a tax cut that 80% of the tax payers are getting. MAGA
@Markonline: that’s Florida
That’s Disney
That’s make believe
@B Gaffn: first I’d like proof of the 80% claim and what the alleged 20% earn and how many tax deductibles do those on the lower end of the spectrum lose?
@B Gaffn: he’s given a ‘temporary’ tax cut for the small people.. and a permanent windfall for the rich folks..but after a few years time,the small people will still be paying for the rich folks windfall,,,
@Dave O Keeffe: Yeah we all know great economy climate in USA is a legacy of Obama and Democrats administration. Trump is only milking it now.
He may be caustic – but damn, he’s getting results. He’ll be returned in 2020c the Democrats forgot the blue-collar workers, Trump hasn’t.
@Brian Lenehan: he could do something about the minimum wage, that’d win bigly and mostly help low income workers
@Brian Lenehan: It’s hard to run things from a jail
Nice to be nice
Mickey money
I never thought i’d say it but you gotta hand it to Trump he has delivered more already than the last couple of presidents added together ! He has a really bad way of communication and is a really dislikable guy but you gotta admit we have complained for years here in ireland about our politicians talking the talk but not delivering! Just with his tax reform and all the repatriation of US money invested abroad by companies alone he has done so much more than the last few presidents already . I think it’s time for us here in ireland to stop viewing Trump as some kind of joke but as a real threat to the irish economy with regard multinationals and investment in this country ! so far Trump has delivered so maybe us and not him are the bigger fools after all ?
@Brian Cotter: you hit the nail on the head. I live in the US and don’t care why he says but what he does and keeping promises (which never happened in the 25 yrs I lived in Ireland) love him or hate him, the US is benefiting, lowest unemployment in 17 yrs, stock market record highs, companies coming back and reinvesting. Things are much better and the Irish government could take a leaf out of his book.
@B Gaffn: Obama left office with the economy in great shape
@Anthony Doyle: Trump Bump is what happened, and was widely acknowledged at the time. The smart money bet on Trump and haven’t been disappointed yet in this regard.
Sure it’s only a Mickey Mouse company
Whoop-de-do.
We need some of the old work practices like health care, education, housing, food,
Please realise this is a tiny amount of money for Disney a PR stunt
@Noel Hewson: PR stunt of not I don’t think that the 125,000 workers really give a shite. $1,000 is $1,000 wherever it comes from.
Standing in the baking Floridian heat in an animal costume jumping around with kids deserves €1k
For years now you’ve only had to like and share their posts on facebook and you got free flights and family Disney passes worth $10k. Its about time they gave the staff something.
The crumbs from the billionaires plate fall to a few
@Martin Sinnott: The billionaires also employ them. There was no equivalent of Disney in that drab, totalitarian sh***ole, workers paradise that was the USSR.
What the left hand giveth….arent bonuses considered taxable salary?
Oh a reminder of my intel days lol
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