Disney laid off thousands, top execs made $35 million amid pandemic in 2020: Report

CEO Bob Chapek was reportedly paid $14 million while Executive Chairman Bob Iger earned $21 million

Disney's latest SEC filing has revealed that while the entertainment juggernaut laid off thousands of employees in 2020, their top two executives earned a total of $35 million in 2020.

The Orlando Sentinal reports that CEO Bob Chapek was paid $14 million while Executive Chairman Bob Iger earned $21 million in 2020 as Disney+ skyrocketed to popularity.

In December, Disney reported that its year-old streaming service has hit nearly 87 million subscribers.

However, the two executives will not receive bonuses this year, the outlet reports, as the company took a major hit due to the coronavirus pandemic, which virtually shut down film production and releases for a time, as well as closed doors and limited capacity at theme parks, a major moneymaker for the organization.

DISNEY'S IGER AND CHAPEK LOSE BONUS PAYMENTS DUE TO PANDEMIC

CEO Bob Chapek, left, was reportedly paid $14 million while Executive Chairman Bob Iger, right, earned $21 million in 2020 as Diney+ skyrocketed to popularity. (Getty Images)

In 2019, Iger earned $47.5 million, 56% higher than 2020. Chapek replaced Iger as CEO in Feb. 2020.

Last summer, the executives announced that they would be taking a pay cut. Per the outlet, Chapek took a temporary 50% pay cut and Iger forewent his salary for the rest of the fiscal year.

COVID-19 DELAYS DISNEYLAND PARIS REOPENING--AGAIN

The outlet reports, citing the SEC filing, that Chapek's salary as well as four other executives -- who had taken temporary 30% cuts -- had their base salaries restored back in August.

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In November, it was revealed that the Walt Disney Co. was increasing the number of employees it was laying off by some 4,000 – mostly in its theme parks – bringing the total to 32,000, as the entertainment giant continues to fight coronavirus closings and limits due to the pandemic.

Fox Business' has reached out to Disney's reps for comment.