"Laid-off staffers will receive a severance package based on their level and length of tenure at the company, according to guidelines in Disney's employee handbook."
"Two of these people said they also received a prorated bonus, paid vacation days, and continued health coverage for several months."
"D'Amaro, the new CEO, said in a memo that those who would be laid off had 'done meaningful work here and care deeply about this company.'"
"Disney's parks business appears set for another strong year, though the company is under pressure to grow streaming profits while keeping costs in check."
Disney is offering severance packages to employees affected by recent layoffs, determined by their tenure and level within the company. Laid-off staff will receive payouts consistent with Disney's employee handbook. Some employees also received prorated bonuses, paid vacation days, and extended health coverage. Comparatively, other media companies have offered different severance packages, with Paramount and The Washington Post providing varying levels of pay based on years of service. Disney's layoffs coincide with a restructuring of its marketing and brand teams, as stated by CEO Josh D'Amaro.
Read at www.businessinsider.com
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