Walt Disney-20th Century Fox merger leads to more pink slips: Report

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The Walt Disney-20th Century Fox merger has led to another round of pink slips in the joint entity. In yet another round of layoffs, around 30-40 employees have lost their jobs. The cuts reportedly applied on Wednesday meant approximately 250 people have lost their jobs since the Walt Disney Studio had completed the $71.3 billion acquisition in the 21st Century Fox.

According to a US media company Variety.com report, the recent retrenchment has primarily impacted the staff in the production and visual effects departments of Fox Studio. The people asked to go also include several executives. This list reportedly includes head of visual effects John Kilkenny, executive VP of feature production Fred Baron, executive VP of physical production Dana Belcastro and executive VP of post-production Fred Chandler on the 20th Century Fox side.

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Disney has also announced that the Fox Research Library will be closed on or before January 6, 2020, and the library’s contents will be added to the Disney archives. The teams at the Walt Disney Archives and the Imagineering Research Library will be evaluating and handling the collection. The future of library’s archivists remains uncertain.

Disney earlier had enacted three rounds of layoffs, which have primarily impacted Fox staffers. Severance packages have been generous. Some of the employees who are being pink-slipped will receive between a year and two years of salary.

Experts had predicted that the Studio-Fox merger will lead to the several thousand job losses. However, the number as of now has not gone beyond 250.

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