GECs
Disney-Fox merger sees more layoffs: Report
MUMBAI: The Walt Disney Studios (Disney) 21st Century Fox (Fox) merger continues to cost jobs with another round of layoffs this week. A large number of employees have been laid off from both sides. Since Disney completed its $71.3 billion acquisition of much of Fox, nearly 250 people have exited so far.
A report from Variety revealed that the latest round of layoff comes in the backdrop of analysts’ prediction of more than 1000 jobs being eliminated due to the merger. According to the report, the latest episode has mainly impacted the production and visual effects departments.
Visual effects head John Kilkenny, feature production executive VP Fred Baron, physical production executive VP Dana Belcastro and post-production executive VP Fred Chandler are among the executives who have received pink slips on the Fox side. Those roles reported to Fox film production vice chairman and president Emma Watts prior to the acquisition. Although Disney has enacted three previous rounds of layoffs mostly impacting Fox staffers, severance packages have been generous.
Disney also informed its staffs that it would shut Fox Research Library on or before 6 January 2020. Fox Library’s content would be integrated into Disney’s own archives. While the teams at the Walt Disney Archives (founded 1970) and the Imagineering Research Library will be evaluating and handling the collection, it is not clear yet if the library’s archivists will also be laid off.
