Walt Disney Co (NYSE:DIS) is planning to give its employees a bonus thanks to the new tax reform.
The bonus from Disney will have it giving $1,000 to 125,000 of its employees. DIS notes that the bonus won’t come in a lump sum. Instead, it will be splitting this bonus into two separate payments: one in March and the other in September.
Disney says that employees eligible for the bonus include its full-time and part-time employees in non-executive positions. To be able to receive the bonus, these employees must have been with the company since Jan. 1, 2018.
The new $1,000 bonus for employees isn’t the only action the company is taking due to tax reform. It also says that it is introducing a new education initiative for its hourly workers. It estimates that 88,000 of its employees will be eligible for the program.
The new education program from Disney will allow employees to pursue higher education or vocational training and will help cover the costs. Employees don’t have to pursue an education in connection to DIS to take advantage of the program.
Disney says that it will be contributing $50 million as an initial investment into its new education initiative. It will also be investing an additional $25 million into it annually after this. This new program won’t replace the already-existing education reimbursement program.
The combination of the bonus for employees and the new education initiative will have Disney investing $175 million in its employees thanks to the tax reform. The company notes that these investments will take place in its current fiscal year.
DIS stock was up slightly as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
