Iger Stopped CEO Bob Chapek's Mass Layoff of Cast Members Before CARES Act Protections Were in Place

wdwnt.com/2022/11/bob-chapek-wanted-to-lay-off-cast-members-covid

The Wall Street Journal’s latest dive into the crumbling of Bob Chapek’s career revealed a telling turn point that ultimately led to the falling out between Chapek and Iger. At the start of the pandemic in early 2020, Chapek had just taken the reins from Iger and was faced with handling the worldwide closures of the Disney Parks and other segments of the company. He wanted to move quickly to lay off thousands of Cast Members to cut costs.

Iger, still acting as Executive Chairman, disagreed. The CARES (Coronavirus Aid, Relief, and Economic Security) act was pending, and Iger wanted those protections in place so the furloughed Cast Members would qualify.

College Program participants were let go and sent home by March 18, which was likely in part because they were in a communal living situation and at higher risk of spreading the coronavirus. Walt Disney World Resort closed on March 16, two days after Disneyland Resort, and the CARES act was not signed into law until March 27. In the…

This story appeared first on wdwnt.com, 2022-11-23.
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