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Technology Stocks : Walt Disney

DIS 104.47

+1.0%

Nov 28 9:30 AM EST

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To: author who wrote ()	6/12/1999 1:33:00 PM
From: stockguy	Read Replies (1) of 2222

Disney (DIS) freezes hiring Sun Sentinel Newspaper 6/12/99 Business Section The Walt Disney Co., (DIS) amid continuing pressure from Wall Street to boost its lagging stock price, has instituted a hiring freeze across the corporation, sources have said. Disney refused to comment on reports that all divisions have been instructed by corporate headquarters in Burbank, Calif., to refrain from filling vacancies and making additional hires. Disney, which has annual revenues of $25 billion, had 117,000 employees as of last September. Disney stock closed at $28.88 down 50 cents on Friday. Disney CEO Michael Eisner ordered a cost-saving review in late April after Disney reported a 30 percent drop in profits for its second quarter ended March 31, but was vague as to what steps would be taken.

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