Citing Trump’s Tax Cuts, Disney Says It Is Giving $1,000 Bonuses to 125,000 Employees

Disney said the bonuses are tied to the new tax law. In this photo, Walt Disney Co. Chief Executive Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City. (Credit: Drew Angerer/Getty Images)

Disney said the bonuses are tied to the new tax law. In this photo, Walt Disney Co. Chief Executive Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City. (Credit: Drew Angerer/Getty Images)

Walt Disney Co. is giving $1,000 bonuses to 125,000 employees and spending $50 million to create a new higher education program for workers, the company said Tuesday.

The one-time cash bonuses are for full- and part-time non-executive employees in the United States who have been with the company since Jan. 1.

The new education initiative, which is designed to cover tuition costs for hourly employees, will receive $25 million in annual funding going forward, Disney said in a statement.

The Burbank entertainment giant is the latest major company to announce a plan to disburse money to employees in the wake of the December passage of the Tax Cuts and Jobs Act of 2017 — which includes a lower tax rate for corporations.

Read the full story on LATimes.com.