Walt Disney Co. continues to face fallout from its scuttled plans to move 2,000 California employees to a proposed Florida campus — a controversial decision the company reversed last year following the return of Chief Executive Bob Iger.
In 2021, then-CEO Bob Chapek and parks and experiences Chairman Josh D’Amaroannounced plans to relocate employees supporting Disney theme parks and resorts — including the celebrated Imagineers — to a planned $1-billion office park in the Lake Nona area of Orlando, Fla. The move was designed for Disney to take advantage of Florida tax credits, but the cross-country shift was deeply unpopular among employees who were asked to uproot their lives in Southern California.
Now some Disney employees are suing the company over the canceled relocation.
According to a lawsuit filed Tuesday against Disney in Los Angeles County Superior Court, numerous workers heeded the company’s calls, dutifully sold their homes in the Los Angeles area and moved to Central Florida.
Just once a year in TX, to clarify that point. It does lag behind true market value, and it’s limited to 10% per year if you live in the home.
Thanks for that!
For reference, CA is limited to 1.1% per year.