Third round of mass layoffs hit Disney and 20th Century Fox

in Disney, Entertainment, Movies, Movies & TV, Television, Theater

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More bad news for Disney and 20th Century Fox employees as another round of layoffs hit workers merged into Disney’s film divisions. The mass layoff comes as a result of Disney’s merger with 20th Century Fox, which has already resulted in the loss of many other workers through two other waves of layoffs.

This latest round is, fortunately, the smallest of the 3 rounds of layoffs the studios has seen since acquiring the film and TV assets of 20th Century Fox back in March. According to an insider with Variety, the mass layoff included a few dozen employees who were dismissed across several divisions in both film groups.

Walt Disney Company and 21st Century Fox
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Disney did not comment on the layoffs. However, it was reported that pink slips were handed out throughout the day.

The last wave of layoffs that came to the Walt Disney Studios and 20th Century Fox film groups was in May, which resulted in cuts in the company’s distribution division and staffers who oversaw the domestic rollout of films.

Prior to the layoffs in May, the last time the company saw a mass layoff took place March 21, when dozens of 21st Century Fox executives were given pink slips. This was the first wave in what is said to be as many as 4,000 layoffs by both companies.

Fox Studios
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Disney has pledged to achieve $2 billion in synergy savings by 2021 and many believe a means they plan to reach this goal is through job cuts. With many mergers of major companies, a human toll will generally occur. However, due to Disney’s size, the company does face greater expectations of remaining a competitive player in the entertainment market.

It’s not known how many more employees the company will target for future layoffs. However, it has also been shared that there may be some layoffs in administrative and back-office functions in time.

What are your thoughts on Disney’s large number of layoffs of its employees? Let us know in the comments below!

Source: Variety

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