Shares of Walt Disney Co. slid 0.7% in morning trading Wednesday, after the media and entertainment giant disclosed in its annual report that will record charges as it makes organizational and operating changes to boost profitability. But in the meantime, the company also disclosed that it had about 220,000 employees as of Oct. 1, up 15.8% from a year ago. That's the most number of employees since the company employed 223,000 employees for the fiscal year ended Sept. 28, in pre-pandemic 2019. The yearly increase in jobs snaps a two-year period in which Disney shed 33,000 jobs, or 14.8% of its workforce. Earlier this month, the company surprisingly announced Robert Iger would return as chief executive, replacing Bob Chapek, who had the role since February 2020. Disney's stock has tumbled 10.8% in November, making it the Dow Jones Industrial Average's worst month-to-date performer. In comparison, the Dow has gained 2.8% this month.
(END) Dow Jones Newswires
November 30, 2022 10:54 ET (15:54 GMT)
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