Fox to lose as many as 400 employees from buyout effort
- 8 years ago
Somewhere between 300 to 400 Fox film and TV employees accepted buyout offers as part of an effort announced in February to save $250 million.
In a February 1 announcement of the buyout plan, Fox said it wants to “ensure our organization remains agile and structured to fully capture the many opportunities ahead of us.”
The company told Wall Street it always looks for ways to control costs, but CEO James Murdoch also noted a continued currency movement against Fox and disappointing commercial results from the film business.
The company made offers to virtually all employees in Fox’s film and TV divisions who had been at the company for at least 15 years.
In a February 1 announcement of the buyout plan, Fox said it wants to “ensure our organization remains agile and structured to fully capture the many opportunities ahead of us.”
The company told Wall Street it always looks for ways to control costs, but CEO James Murdoch also noted a continued currency movement against Fox and disappointing commercial results from the film business.
The company made offers to virtually all employees in Fox’s film and TV divisions who had been at the company for at least 15 years.