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Layoffs In Disney Are "Widespread," Affect both Disney And Fox Studios – Report



When Disney announced that the purchase agreement of most Fox's assets at $ 71 billion was closed, CEO Robert Iger said in a memo that would have an "integration process." Some media reports say that "thousands" of jobs will be lost as part of it.

According to The Hollywood Reporter, the last round of layoffs came this week. Job cuts are described as "widespread" and affect Disney studios. There were no words how many people were affected by the cuts, reportedly affected by the Disney and Fox studios.

Officially, Disney was not commented.

The new round of cuts is in conjunction with news that Disney is likely to pay around $ 9 billion to buy Comcast's stake on Hulu's video streaming site. Disney owns two-thirds of Hulu, and now Disney purchases the rest to accept its total ownership.

THR claims Disney has a lot of previous finance costs, including additional content and programming investments for its Netflix rival at Disney +. Not only that, but Disney has reported spending $ 24 billion over the next five years to upgrade its theme parks and cruise lines.

As of September 30, Walt Disney Company has over 201

,000 employees, and it's new The Fox deal is closed.

As part of Disney's acquisition of Fox's majority assets, it acquires Deadpool, X-Men, The Simpsons, Family Guy, and many others, as well as a series of TV networks and studios movie. It is one of the largest mergers in the business history of leisure.

Only after the Disney deal to buy Fox closed, the company stopped Fox 2000. The film studio produced films such as The Devil Wears Prada, The Fault in Our Stars, Man on Fire, and the Oscar appointed Hidden Numbers.

Fox will live in a limited capacity, with a new company – Fox Corporation – operating units like Fox News Channel, Fox Sports, and other TV networks.


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