Disney4me Posted Wednesday at 04:37 PM Report Posted Wednesday at 04:37 PM On the Disney earnings call in early August, Disney CEO Josh D’Amaro and CFO Hugh Johnston explained that moving forward, Disney would be participating in more efforts to reduce costs in the company. Josh D’Amaro Well, it looks like we may be seeing the start of these efforts as Disney is officially rolling out a new Early Retirement Plan for select executives. According to Variety, Disney is currently offering longtime executives the option of an early retirement package, in what appears to be part of their cost-cutting initiative. This offer was announced in a memo by Senior EVP and Chief People Officer Sonia Coleman. Essentially, this is a “Voluntary Early Retirement Offer (VERO) program set to give eligible executives the opportunity to retire now with an enhanced retirement package.” ©Disney The offer is set to include the following: Severance pay Continued vesting of any existing equity awards Continued healthcare support Continued Silver Pass access to Disney Parks Disney CEO Josh D’Amaro According to Coleman, “We recognize that retirement from the company is a deeply personal decision. For those who receive this opportunity, our goal is to ensure they have the information, time, and support needed to make the choice that is right for them.” ©Disney This package is also only available to employees who meet the following requirements: “U.S.-based employees at the director through EVP levels within the Disney Entertainment, ESPN, and corporate divisions, who meet 65 points (calculated by age + years of service), with a minimum age of 50 and at least 10 years of service. Employees on contract are not eligible for the early retirement offer.” ©Disney The goal of these packages and the other cost-cutting measures occurring throughout the company is to ” invest in areas where Disney sees the most potential for future growth: content, technology, and experiences.” ©Disney We will continue to bring you all of the Disney news, so stay tuned with Disney Food Blog so you never miss anything! Disney Shares A NEW Look At Three Upcoming Projects! Join the DFB Newsletter to get all the breaking news right in your inbox! Click here to Subscribe! WE KNOW DISNEY. YOU CAN, TOO. Oh boy, planning a Disney trip can be quite the adventure, and we totally get it! But fear not, dear friends, we compiled EVERYTHING you need (and the things to avoid!) to plan the ULTIMATE Disney vacation. Whether you're a rookie or a seasoned pro, our insider tips and tricks will have you exploring the parks like never before. So come along with us, and get planning your most magical vacation ever! GET YOUR GUIDE NOW What do you think of of this Disney executive early retirement program? Let us know in the comments! View the full article Quote
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