Sonia Coleman introduces voluntary early retirement program for Disney executives to reduce costs.
Disney EVP and Chief People Officer Sonia Coleman announced a new Voluntary Early Retirement Offer (VERO) for eligible executives to help the company reduce costs. The program provides a time-limited opportunity for U.S.-based executives from director through EVP level to retire with an enhanced package that includes separation pay of up to a year, continued healthcare at employee rates, and lifelong Silver Pass access to Disney theme parks. This initiative follows a series of layoffs that have already impacted thousands of roles across the company. The administration of the program aims to give leaders the opportunity to make personal decisions on their own terms before further involuntary staff reductions occur. Eligible executives must be at least 50 years old and have served at least 10 years at Disney, with a total score of 65 points based on age and tenure. The offer is designed to streamline operations and create capacity for future growth in content, technology, and experiences.