3/21, 10:11 PM (Source: TeleTrader)
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Fox starts laying off workers after Disney deal - report

The American media company 21st Century Fox began on Thursday the first in a series of anticipated high-level layoffs following the conclusion of a $71.3 billion merger deal with Walt Disney earlier this week, the Los Angeles Times reported citing people familiar with the matter.

The initial workforce cuts affected around two dozen senior-level executives this morning, while additional 3,000 employees, mostly at Fox, are also expected to lose their jobs over the next weeks and months. The majority of workers whose job contracts will be terminated reportedly belong to distribution, home video and marketing departments, where there is significant overlap between Fox and Disney.

Breaking the News / FH