The company already has an education reimbursement program for full-time employees and that will remain unchanged.
“I have always believed that education is the key to opportunity; it opens doors and creates new possibilities. Matched with the $1,000 cash bonus, these initiatives will have both an immediate and long-term positive impact,” Iger said.
Almost 88,000 hourly Disney workers will be eligible for the new education program and can pursue classes unrelated to their Disney jobs, company officials said.
Disney will provide $25 million a year for the new program after the first $50 million investment this year.
Verizon and AT&T also announced bonuses for their employees after President Donald Trump signed the new tax-cut measure into law just before Christmas.