Not everything to come out of Disney’s acquisition of Fox is positive. Fox has reportedly been hit with a wave of layoffs in the wake of the transaction, according to Variety.
- The layoffs are hitting employees at the SVP, EVP, and president level first but are expected to trickle down to lower levels as well.
- Fox’s film team is expected to get hit the hardest as the integration into Disney gets underway.
- There could be as many as 4,000 jobs cut as a result of this massive merger.
- One of the most notable names to be cut by Fox is Domestic Distribution President Chris Aronson, who helped oversee the distribution of films like Life of Pi, Bohemian Rhapsody and Kingsman.
- Other notable names include Executive Vice President and head of domestic publicity Heather Phillips, as well as President of product strategy and consumer business development Mike Dunn.
- Several members of Fox’s film leadership will be making the transition to Disney, including:
- Twentieth Century Fox Film vice chairman Emma Watts
- Fox 2000 chief Elizabeth Gabler
- Fox Family president Vanessa Morrison
- Fox Searchlight co-heads Steve Gilula and Nancy Utley
- Those being who are not making the cut are reportedly receiving generous severance packages, with some senior staff members receiving up to 9 months of full pay.
What they’re saying:
- Fox Domestic Distribution President Chris Aronson: “It has been an honor and a privilege to lead the domestic distribution team, which I consider to be the gold standard in the business. While I am disappointed not to continue, I look forward to starting a new chapter in this business during this exciting time of change.”
- Walt Disney Studios Chairman Alan Horn and President Alan Bergman in a memo: “Day-to-day, our top priorities remain the same: to support the great content we’re creating and deliver a superb experience to our consumers, and to continue to build an inspiring, inclusive environment where employees can bring their best to work every day.”