The Walt Disney Company announced Tuesday it will give more than 125,000 employees a $1,000 cash bonus.
- Disney giving one-time $1,000 cash bonus to workers
- Bonus will be made in 2 payments
- Company will also spend $50M for employee education
The one-time bonus applies to eligible full-time and part-time employees who have worked for Disney since Jan. 1.
The employees can be either hourly or salaried but must be based in the United States, Disney said.
Disney's executive-level employees are not included in the bonus.
Employees will receive the bonus in two payments, with one in March and the other in September.
Beyond the bonuses, Disney said it will make a $50 million initial investment toward a new employee education program. After that, Disney will fund the progam with up to $25 million annually.
The money will cover the cost of higher education, vocational training and courses unrelated to the employee’s current jobs, Disney said.
“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,” said CEO Bob Iger in a statement.
The company’s new education initiative will be available to almost 88,000 hourly employees.
Several other companies have announced worker bonuses after the passage of the Republican tax plan, such as AT&T, Comcast and Walmart, which earlier this month announced it would close scores of Sam's Club locations around the country, including in Orlando and Tampa.
Disney's announcement comes just over a month after the company's $52.4 billion stock deal to acquire much of 21st Century Fox's assets.