The Disney Corporation announced Tuesday they will pay over 125,000 employees a one-time cash bonus of $1,000, as well as make a new $50 million investment into education program for employees.
“We are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program,” CEO Bob Iger said in a statement.
Disney says both initiatives are due to recent tax reform. Some of the biggest companies in the United States have been giving out bonuses to employees, often citing the recently-passed tax bill as the motive. Boeing, AT&T, Wells Fargo, Comcast, Bank of America and Walmart are just a few of those distributing new tax benefits to workers.
Disney’s education initiative will be available to nearly 88,000 hourly employees in the U.S.
“Participants can pursue qualifying higher education or vocational training, including courses unrelated to their current responsibilities at Disney,” the company said in a statement.