Disney is offering its longtime executives a way out. The company has introduced a Voluntary Early Retirement Offer, known internally as VERO, that gives eligible U.S.-based executives from Director through Executive Vice President an enhanced package to leave now, according to a memo from Senior Executive Vice President and Chief People Officer Sonia Coleman that Deadline obtained on August 24. Variety and TheWrap have since confirmed the Disney early retirement program.
The offer is the latest step in a cost-reduction effort that already eliminated about 1,000 positions in April and produced another round of cuts in July. Coleman’s memo describes the VERO as one of several actions Disney is taking to reshape its organization, and it states plainly that involuntary reductions have already begun in some divisions and will continue into 2027.
Who Qualifies
Eligibility runs on a points formula. Executives must be at least 50 years old with a minimum of 10 years at Disney, and their age plus years of service must add up to at least 65. The program covers Disney Entertainment, ESPN and Corporate, including some employees temporarily assigned outside the United States. Executives working under contracts are excluded, which leaves out many of the company’s most senior leaders. TheWrap reports the program is not being extended to contract executives at all.
Disney Experiences, the parks and cruise division, is not named in the eligible units. Deadline’s account lists Disney Entertainment, ESPN and Corporate only.
What The Package Includes
Separation pay runs up to one year depending on tenure and level. Healthcare continues at active employee rates for the length of the severance period. Existing equity awards keep vesting for three years, a benefit Disney normally extends only to employees who formally retire rather than leave. And the perk that matters most to parks fans is included: continued Silver Pass access for life, which provides complimentary theme park admission outside of blackout dates and has traditionally been reserved for Disney retirees.
There is no non-compete attached. Executives who accept can take a job at another company during or after their severance period without losing the separation pay. Eligible leaders get a defined election window followed by a confirmation period, though Disney has not disclosed the dates publicly, and the company is routing detailed questions through HR business partners and a dedicated People and Culture team rather than managers.
How Coleman Framed It
Coleman’s memo leans on the word voluntary. “Participation is entirely optional,” she wrote, and no eligible executive is required to elect the offer. She also described retirement as a deeply personal decision and said the goal is to give those who receive the offer the information, time and support to make the right choice. The memo describes the package as recognition of years of service, which is the language companies use when a buyout is meant to reduce headcount ahead of harder cuts.
The program lands five months into Josh D’Amaro’s tenure as CEO and in the same stretch when Disney has been unloading its A+E stake and fighting a public battle with the FCC over its ABC licenses. Disney says the reductions come as it invests in content, technology and experiences.
Deadline’s exclusive report includes the full text of Coleman’s memo, and TheWrap has the eligibility breakdown.
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