The stock of Walt Disney Co. (DIS) dropped 1.4% on Tuesday as investors took a closer look at Disney’s outlook for its earnings in fiscal 2018.
Walt Disney stock has lost nearly 50% of its value since Disney first reported a revenue decline in fiscal 2016.
The company posted a loss of $24.7 billion in fiscal 2017, down from $33.9 billion in 2016.
On Tuesday, Disney CEO Bob Iger said the company is looking to add 1,000 new jobs, including 600 at the parks.
That will allow Disney to grow the number of jobs in its parks by about 200,000.
The CEO said the new hires will help the company grow its total park count by 2 million.
Disney’s park count has been steadily declining since the company opened its new theme parks in Florida and Florida Beach in 2020.
Disney is looking at the possibility of hiring 2,000 more workers in the parks, according to the Wall Street Journal.
Walt Disney’s stock dropped by about 3% on the news, falling about 1.5% to $39.70.
The stock dropped 3% to just over $38.10 on the Nasdaq on Tuesday.