Just hours after JP Morgan Chase & Co. said it would invest $20 billion in an expansion plan while also raising wages for 22,000 employees, Disney has become the latest company to announce a tax-cut fueled spending initiative.
The company will pay over 125,000 employees a one-time cash bonus of $1,000, as well as make a new $50 million investment into education program for employees, according to CNBC.
The education initiative will be available to nearly 88,000 hourly employees in the US, the company said.
"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," CEO Bob Iger said in a statement.
The bonus applies to any full-time and part-time employees who have been working for Disney since before Jan. 1. Those eligible will receive the bonus in two parts, with one in March and the other in September. Executive level employees are exempt.