The Walt Disney Company announced Tuesday it will give a one time, $1,000 cash bonus to 125,000 U.S.-based employees, for a whopping total of $125 million. And according to an internal memo obtained by TheWrap, Disney CEO Bob Iger said the bonuses come “as a result of the recently enacted tax reform” passed by Republicans in December.
The one-time $1,000 cash bonus will be distributed in two payments of $500, the first in March and the second in September. All U.S.-based Disney employees, either hourly or salaried, who have been with The Walt Disney Company since Jan. 1 of this year will be eligible. In accordance with federal law, the company said it will work separately with union representatives to determine possible distribution plans for union employees.