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Between 300 and 400 TV and film employees have taken voluntary buyouts at 21st Century Fox, part of an effort to cut $250 million annually from the conglomerate’s expenses.
According to insiders, the number represents about half of the workers who were offered the buyout. Even so, there aren’t any layoffs planned, the insider said Wednesday, as other cost-saving measures can make up the difference.
The conglomerate has about 20,000 employees worldwide and said in February that it would take steps to rein in spending.
Fox said at the time it had “offered a generous benefit package” to employees who voluntarily leave the company. “We want to ensure our organization remains agile and structured to fully capture the many opportunities ahead of us,” the conglomerate explained then.
Among the executives who accepted buyouts, insiders said Wednesday, are Fox Searchlight chief of production Claudia Lewis, chief of consumer products Jeffrey Godsick and Fox Broadcasting marketing executive vp Laurel Bernard.
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