Fox Entertainment has laid off 30 employees as part of a restructuring, the latest in a series of workforce cuts across the industry.
The cuts at Fox come as the broadcaster is changing the structure of its operations on both the production and business sides into three groups: The Fox Television Network, headed by Michael Thorn; Fox Entertainment Studios under Fernando Szew; and Fox Entertainment Global, the company’s worldwide sales arm. Tony Vassiliadis is the interim head of the latter division.
“While there are many exciting aspects to realizing our path forward, one of the most difficult phases in any reorganization is recognizing where redundancies exist and how evolving priorities affect our team,” Fox Entertainment CEO Rob Wade wrote in a memo to staff (read it in full, below). “Today, we informed some of our colleagues that their jobs were impacted by the restructuring process. Please know, these decisions were made with the utmost care and consideration and are in no way a reflection of anyone’s performance or contributions. This step was solely related to aligning our business operations, ambitious growth strategies and the dynamics of our industry today.”
The layoffs at Fox follow cuts at Warner Bros. Discovery, Paramount, and Disney’s Pixar and Marvel (among others) in recent months as the entertainment industry pulls back on the free-spending days of the early streaming era.
Wade’s memo to Fox staff is below.
Hi Team,
As we continue the transformative work of building FOX Entertainment for the future, I want to start by sincerely thanking every one of you for your support, dedication and unmatched creativity.
While there are many exciting aspects to realizing our path forward, one of the most difficult phases in any reorganization is recognizing where redundancies exist and how evolving priorities affect our team. Today, we informed some of our colleagues that their jobs were impacted by the restructuring process. Please know, these decisions were made with the utmost care and consideration and are in no way a reflection of anyone’s performance or contributions. This step was solely related to aligning our business operations, ambitious growth strategies and the dynamics of our industry today.
As we evolve the business to be more efficient and effective, we open the door to incredible opportunity with creativity as the enduring center of it all. In completing our restructuring, I’m confident that we have the team in place to achieve remarkable things, as we increasingly invest in original entertainment and solidify our position as a global studio and distributor.
In the coming weeks, we’ll schedule team conversations to discuss the business and what we believe is a promising, exciting future for all of us at Fox Entertainment. Until then, I’m grateful for your commitment and partnership.