Disney's profit falls 12% as core units disappoint

Article Abstract:

Walt Disney Co. posted a decline of 12% in its net income for the fiscal third quarter of 1999. The company has been hurt by continuing problems in its core businesses. Disney posted $367 million (348.7 million euros) in net income for the period. During the same period in 1998, the company reported $415 million on $5.2 billion in revenues. Disney stated that with the exclusion of the 1998 purchase of 43% of Infoseek Corp., it posted $418 million in net income.

Comment:

Posted a decline of 12% in its net income for the fiscal third quarter of 1999

Sales, profits & dividends, Finance, Abstract

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Disney's Web effort has trouble keeping workers on the team

Article Abstract:

The top executive, Jake Winebaum, has resigned from Walt Disney Co.'s Buena Vista Internet Group to pursue a career at an Internet start-up. Industry analysts have said that Disney's online operations have been hurt by numerous defections as smaller, more flexible online enterprises are able to attract managerial talent.

Executive changes & profiles, Officials and employees, Online services, Internet services, Walt Disney Co. Buena Vista Internet Group

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Disney seeks to reduce work force by 4,000 people as economy softens

Article Abstract:

Walt Disney Co. is planning to cut its work force around the world by 4,000 workers or approximately 3% of its labor force. The planned layoffs are a response to the "softening economic environment."

Labor force information, Planning, Human resource management, DIS, Layoffs

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