Approximately 4,000 Layoffs Expected at Walt Disney Studios and 20th Century Fox Due To Merger. According to Variety, the first wave of layoffs occurred on March 21st with the firing of several dozen executives at 21st Century Fox. Both Disney and what remains of the Murdoch Family’s assets, now called Fox Corp., will be conducting layoffs after the $71.3 Billion merger.
Though an exact number has yet to be given, the scheduled layoffs are projected to relieve thousands of employees, nearly 4,000, at both Walt Disney Studios and 20th Century Fox due to the nature of this historic merger of the two entertainment conglomerates.
Disney has not formally announced which departments will primarily be affected, but it appears staffing on the film side of the studios, like the the distribution division, specifically those staffed to monitor the domestic rollout of films, is expected to be one of the heaviest hit in this round of layoffs. The publicity and marketing departments are also predicted to take heavy hits to staffing, with layoffs beginning today. As the layoffs occur we will have a better idea of which departments are taking the brunt of this round.
For now it seems the Television sides of the studios at both Disney and Fox will be minimally impacted by this round of layoffs, but may ultimately be impacted in the future after management review of production. Disney has also states that 20th Century Fox, ABC Studios, and Fox 21 Television Studios, will be operating as individual studios and as their own labels for the time being.
Though it is shocking to see such a high number of layoffs at first, this is standard practice when major company mergers occur. Those who tend to be given a pink slip are usually not as qualified as someone in a similar position from the other studio, may be contracted under a cancelled project and compensated per their contract, or are in an oversaturated or unnecessary department.
We hope the best for those who are affected by these layoffs and we hope they find employment again very soon.
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