Bloomberg Law
Oct. 14, 2020, 3:06 PM

Warren Prods Disney CEO on Buybacks, Pay Before 28,000 Cuts (1)

Anders Melin
Anders Melin
Bloomberg News

Senator Elizabeth Warren criticized Walt Disney Co. for laying off thousands of workers as a result of the pandemic, saying its spending on share buybacks and executive pay enriched bosses and investors but eroded its ability to weather a downturn.

“It appears that -- prior to, and during the pandemic -- Disney took good care of its top executives and shareholders -- and now is hanging its front-line workers out to dry,” Warren wrote Tuesday in a letter to Executive Chairman Bob Iger and Chief Executive Officer Bob Chapek.

Bob Iger
Photographer: Qilai Shen/Bloomberg

In the letter, Warren asked about the monthly cost ...

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