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Elizabeth Warren slams Disney for laying off thousands of workers after awarding fat executive pay packages

October 14, 2020. Summarized by summa-bot.

Senator Elizabeth Warren slammed Disney over decisions she says prioritized shareholders and CEO pay packages over the well-being of its workers.

New York (CNN Business)Senator Elizabeth Warren slammed Disney over decisions she says prioritized shareholders and CEO pay packages over the well-being of its workers.

Disney, which is laying off 28,000 employees in the United States, made "short-sighted" business decisions that depleted the storied company's capital cushion, Warren said in a letter released Wednesday.

"It appears that — prior to, and during the pandemic — Disney took good care of its top executives and shareholders — and is now hanging its front-line workers out to dry," Warren wrote in the letter.

In April, Abigail Disney, the granddaughter of Walt Disney's brother, expressed dismay at the company's decision to furlough thousands of low-paid workers after paying executives millions of dollars.

In her letter to Disney, Warren took issue with the company's comments on California.

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