Disney offering longtime executives, including those at ESPN, early retirement packages

If any longtime ESPN executives were looking for a good time to retire, now might be it.

In a memo to staff from Senior EVP and Chief People Officer Sonia Coleman on Monday, Disney announced a time-limited, company-sponsored Voluntary Early Retirement Offer (VERO) program that would give those eligible the opportunity to retire now with a sweetened retirement package.

“We recognize that retirement from the company is a deeply personal decision,” Coleman wrote in the memo. “For those who receive this opportunity, our goal is to ensure they have the information, time, and support needed to make the choice that is right for them.”

Per Deadline, the package includes separation pay, continued vesting of existing equity awards, healthcare coverage at active-employee rates, and continued Silver Pass access to Disney theme parks.

The offer applies to U.S.-based employees at the director through EVP levels across Disney Entertainment, ESPN, and corporate divisions who are at least 50 years old and have worked directly for the company for at least 10 years. These employees must also meet a threshold based on an equation calculated by age + years of service. The offer does not apply to employees on contract.

The memo comes amid broader cost-cutting efforts across Disney, particularly at ESPN, which had its most recent round of layoffs several weeks ago, including Karl Ravech and Ryan Clark. Disney CEO Josh D’Amaro and CFO Hugh Johnston told investors earlier this month that more cuts were coming.

We’ll have to see if any ESPN executives take the deal, which comes a little late for longtime ESPN exec David Roberts, who retired a few months back.

If nothing else, we’re sure Pat McAfee can think of a few execs he might want to encourage to take it.