It’s pretty much assumed whenever there’s a merger that layoffs are to follow. Whenever merging big companies, there are sure to be plenty of employee redundancies, and in the name of making a profit and pleasing shareholders, cuts inevitably have to be made. So for the past day, ever since the deal seeing Disney acquire most of 21st Century Fox went through, we’ve been waiting to see the first cut to make headlines.
According to a new report from THR, the first hammer has fallen. They state that Chris Aronson, 20th century Fox film president of domestic distribution, has just been given his 60-day notice. Of course, he’s not the only one, but he’s the high profile name being highlighted in this report.
“I am extremely grateful for my time at TCF under the leadership of Tom, Jim, and Stacey,” said Aronson. “It has been an honor and a privilege to lead the domestic distribution team, which I consider to be the gold standard in the business. While I am disappointed not to continue, I look forward to starting a new chapter in this business during this exciting time of change.”
The House of Mouse is reported to be notifying the staffers department by department. The time each person is being let go varies from person to person. Some are given a few months, some six months, some for a specific transition period, all depending on the job.
It’s unfortunate, given that finding work in any industry can be tough, but it wasn’t unexpected. Hopefully, all the displaced workers will be able to find fulfilling jobs elsewhere, or can even go on to found their own studios to take on more unique projects. In a world where the business is increasingly being owned by a wealthy few, it’d be nice if some smaller houses can appear and thrive…but we’ll see just how possible that is.
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