Los Angeles, CA, United States (4E) – Filmmaker and activist Abigail Disney called for Walt Disney Co. to address issues of wage inequality in the company.
Disney’s comment, which she posted on Twitter, addressed specifically the massive pay being received by the company’s chief executive, Robert Iger, who took home more than $65 million in 2018, The Hollywood Reporter wrote. She went on to write that the company, which was founded by her great uncle Walt Disney, has seen an increase of 937 percent in terms of salary to the CEO since 1978. Pay for typical workers, however, only grew by 11.2 percent showing a striking imbalance between the two.
She wrote that this inequality has affected the American working class and have called for the company to “help rebuild the American middle class and respect the dignity of the men and women who work just as hard” as Iger’s does to develop Disney into the “amazing company it is.”
Disney further suggests that that company rewards its employees fairly.
The company has responded the comments made by Disney in a statement given to the New York Times. Walt Disney Co. defended its pay practices, saying it has “made historic investments to expand the earning potential and upward mobility” of its workers.
It cited that the company has implemented a starting hourly wage of $15 at Disneyland, which is double the federal minimum wage. The company added that it committed itself to financing an education initiative that provides hourly employees to obtain a college or vocational degree without any payment.
In relation to Iger’s compensation, Walt Disney Co. stated that his 90 percent share is based on financial performance and that since his tenure at the company, its stock price rose from $24 to $133 per share.
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