Disney reached a deal with unions that would hike the minimum wage for Walt Disney World Resort workers to $15 an hour by 2021, signaling an end to contract negotiations that have dragged on for nearly a year. Disney (DIS) said in a statement that the deal contains the "largest proposal ever offered by Walt Disney World Resort with significant pay raises." Under the agreed upon terms, the minimum wage will climb incrementally over the next three years before hitting $15 per hour in October of 2021. Disney reached a deal in July to lift the minimum hourly wage to $15 for 10,000 Disneyland workers in Anaheim, California beginning next year. The company signaled in June that it was willing to offer a $15 minimum wage to Walt Disney World employees, but negotiations remained hamstrung over certain provisions Disney wanted to include in the new contract.

Source: CNN August 25, 2018 18:12 UTC