Disney rolls out voluntary early retirement offer for senior leaders
Disney is rolling out a Voluntary Early Retirement Offer (VERO) for its senior leaders as part of ongoing efforts to save money.
Announced by Disney's senior executive vice president and chief people officer Sonia Coleman, the offer is open to top staff across Disney's corporate, entertainment, and sports teams.
The idea is to give long-serving executives a soft landing while Disney steps up efforts to reduce expenses across the business.
US executives eligible, offer includes benefits
Eligible executives get severance pay, continued vesting of company shares, medical benefits at employee rates, and even park access with a Silver Pass.
The deal is for U.S.-based directors up through executive vice presidents at Disney Entertainment, ESPN, and corporate divisions.
To qualify, you need to be at least 50 years old with 10 years at Disney and have 65 points combining age and service.
Participation is optional but only available for a limited time: regular layoffs will continue after this program wraps up.