New Disney-Fox Layoffs Hit Combined Film Studios
It's the third round of exits following the marriage of the two companies.
A relatively small round of layoffs hit the Disney and Fox film studios on Wednesday as the combined companies continue to consolidate their operations.
It's the third time severance slips have been issued since Disney completed its $71.3 billion acquisition of much of the 21st Century Fox media and entertainment empire.
Disney declined to comment on the latest layoffs. The latest round involved fewer employees than the first two, which numbered roughly 38 and 100, respectively, a source told The Hollywood Reporter.
Various divisions across the film studios are being impacted in order to reduce redundancy, according to sources.
Layoffs are expected to continue in the coming months. Disney said prior to the close of the merger that it was eyeing $2 billion in annual cost savings by 2021, and observers presumed much of that would come by way of layoffs.