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The Voluntary Early Retirement Offer is open to U.S.-based director-through-EVP-level staff who meet a 65-point age-and-tenure threshold
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Disney $DIS announced a Voluntary Early Retirement Offer for longtime executives on Monday, adding the program to a broader cost-reduction effort that has already included multiple rounds of involuntary layoffs this year.
Chief People Officer Sonia Coleman outlined the program in a memo sent to employees ranked director and above. Under the VERO banner, qualifying executives can choose to exit the company immediately in exchange for an enhanced retirement package. "This is one of several actions we're taking to reshape our organization, including involuntary staff reductions that have already begun in some areas and will continue into next year," Coleman wrote.
