Disney Offers Early Retirement Packages to Select Executives

Disney has announced a new cost-cutting measure aimed at reducing expenses in the company. As part of this effort, Disney is offering select executives an early retirement package, dubbed the Voluntary Early Retirement Offer (VERO) program.

The VERO program includes severance pay, continued vesting of existing equity awards, continued healthcare support, and access to Disney Parks through the Silver Pass program. Eligible employees must be U.S.-based, at the director or EVP level within the Disney Entertainment, ESPN, or corporate divisions, with a minimum age of 50 and at least 10 years of service.

Disney CEO Josh D'Amaro explained during an earnings call that the company aims to invest in areas where it sees potential for future growth, such as content, technology, and experiences. The goal is to reduce costs while also providing support for those retiring through the program.