On the sidelines of the Allen & Co. conference in Sun Valley last week, Walt Disney Company CFO Jay Rasulo said executive car allowances are going the way of the Edsel. “We’re phasing them out,” Rasulo told Bloomberg. The move is part of a larger attempt to curtail some perks at the Mouse. Rasulo wouldn’t be led on specifics, but told Bloomberg he was seeking to modernize operations. “We looked at the way technology is changing our businesses. We’re removing vestigial parts.” A mid-level Disney exec told the news agency that in recent years their monthly car allowance was $900. Some company units have also done away with the half-day Friday policy during the summer. Disney CEO Bob Iger and Rasulo last year ordered an internal review to pinpoint superfluous positions and increase efficiency. In one result, about 150 staffers were laid off at the film studio April.
Bloomberg: Disney Putting The Brakes On Executive Car Allowances, Other Perks
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