Another Round of Layoffs Hits Disney and Fox Film Studios. As the two entertainment conglomerates are woven together, there is an effort to reduce redundancies within the studios.
The Hollywood Reporter brought notice to the layoffs, which occurred on Wednesday, June 19th. Though an official number has not been released by The Walt Disney Company, it has been reported that the number of employees released is less than the last few rounds of layoffs, which included the termination of nearly 140 people combined.
“Our integration process will be an evolution, with some businesses impacted more than others,” Iger wrote in a statement from earlier in the year. “We’ve made many critical decisions already, but some areas still require further evaluation. We may not have answers to all of your questions at this moment, but we understand how vital information is, and we’re committed to moving as quickly as possible to provide clarity regarding how your role may be impacted.”
“This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders,” Iger continued. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”
Unfortunately, a side affect to mergers of this capacity is the need to cut out unnecessary expenses and positions within the companies. Though this is hardly a surprise for anyone who understands how businesses must operate in these situations, it does not make it any easier to see people loosing their jobs.
There will undoubtedly be more layoffs in the future as the studios consolidate even further. We wish the best to those who find themselves in this unfortunate circumstance and that they are able to find work soon.
Photo Credit: D23/The Walt Disney Company/21st Century Fox