The Walt Disney Company has handed pink slips to a number of staffers as another round of layoff took place last week, bringing the total number of staffers to lose their jobs to around 250 Disney had completed $71.3 billion acquisition in 21st Century Fox.
This round of job cuts last week has primarily hit staff in the production and visual effects departments, US magazine Variety has reported. The exits so far have been far more less than the thousands predicted by analysts.
Another round of pink slips is feared in January next year when the Fox Research Library will be shut down. Disney told staffers that it will shut the Fox Research Library on or before Jan. 6, 2020. It will fold the library’s contents into its own archives. The teams at the Walt Disney Archives (founded 1970) and the Imagineering Research Library will be evaluating and handling the collection. It’s unclear if the library’s archivists will be let go.
The Fox Research Library has served as a resource for filmmakers and academics. It boasts a valuable collection of 19th century books, British newspapers, 1920s fashion magazines and a vast collection of materials on World War II. The collection has served as a resource in the making of classics like “The King and I,” “The Grapes of Wrath” and “Titanic.” One individual familiar with the library said the procedural hit “House” used the library to find information about the diseases featured on the medical show.
This was the fourth round of layoffs at Disney. The exercise in all the four rounds has primarily impacted Fox staffers.
However, the employees have received lucrative severance deals ranging from 12 to 24 months’ salary.