By Chris Evangelista/March 21, 2019 1:45 pm EST
FOX Entertainment’s New Chapter
THR adds:
The staff cuts are hitting employees at the SVP, EVP, and president level. Senior staff is expected to be among the first to be impacted. However, the cuts will be deep, with the ax falling hardest of Fox’s film team. There could be as many as 4,000 jobs cut in the merger, according to some reports.
And according to the LA Times, “the company has said that it expects ‘at least $2 billion in cost synergies by 2021 from operating efficiencies realized through the combination of businesses.’ The bulk of those efficiencies will come through workforce reductions.”
Walt Disney Studios Chairman Alan Horn and President Alan Bergman told staff to expect “quite a bit of change across our organizations,” which is a nice way of saying “We’re going to fire a bunch of you.” The duo also issued the following statement:
Oh, and then there’s this:
“Day-to-day, our top priorities remain the same: to support the great content we’re creating and deliver a superb experience to our consumers, and to continue to build an inspiring, inclusive environment where employees can bring their best to work every day.”
— Nicole Sperling (@nicsperling) March 21, 2019
Anyway, time to celebrate! Unless you work for Fox! Then you should probably update your Linkedin account immediately.
