Walt Disney World workers are expected to see their minimum wages rise to $15 throughout the coming years, pending approval on a new deal reached over the weekend.
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The labor unions that represents 38,000 workers at Walt Disney World in Florida, reached an agreement with the company after protracted nearly year-long negotiations that would raise starting pay for employees to $15 from $10. The contract will be up for a vote early next month by union members, but is expected to be approved.
By the end of this year, the new agreement would raise minimum wage to $11. Each year starting pay would increase by $1 until 2021, when the rate is expected to remain at $15.
The new agreement would end in October 2022.
Union representatives said the increase in wages will help boost the local economy by encouraging more consumer spending. They also said the decision could impact pay decisions at nearby parks, like Universal Studios, as rivals seek to remain competitive.
Disney did not immediately return FOX Business’ request for comment.