More than 3,000 people, mostly at Fox, are expected to lose their jobs following the studio’s sale to Disney
The main gate of Walt Disney Co.'s headquarters in Burbank. Disney has begun layoffs at Fox after its landmark purchase of the studio. to Walt Disney Co. this week.
Some of those cuts were expected to come this week, but the bulk will probably occur over the next weeks and months. Disney finalized its $71.3-billion purchase of Fox on Tuesday as it embarks on a plan to use the combined company’s formidable stable of intellectual property to take on Netflix and others in the highly competitive streaming video market.
At the same time, Horn and Bergman projected an upbeat message for the company’s future, heralding the bold strategy led by Disney Chairman and Chief Executive Bob Iger. They also said they planned to make announcements about the studio’s leadership structure soon.
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