After completing the Disney Fox merger, many questions arise as to what will change in the wake of the acquisition. While neither studio has formally announced what the deal will mean for future film and television productions, one thing is straightforward: when companies merge, redundancies will inevitably happen. And, as Cinemablend points out, two companies, the size of Disney and Fox combined, could lead to thousands of employees without work.
The popular entertainment news website announced this week that around 7,500 people are expected to face unemployment as a result of the merger. Although much of the work that will be incorporated into the combination of these two film and television giants will not begin until the merger is officially completed, the upcoming layoffs are undeniable. When Disney and Fox merge, thousands of people with the same positions will technically work for the same company. And because Disney is the company Fox buys, it only makes sense for Fox employees to be unemployed.
Of course we would not hate anyone losing their jobs through this merger. Through its merger with Fox, Disney acquires the television and film studio of Fox, FX, Nat Geo, Star India, Fox's 30% stake in Hulu, and Fox's 39% stake in European media company Sky. With all of these studios, part of the acquisition involves thousands of employees who still need work, and their jobs will not disappear suddenly if Disney wants to continue producing media under each of these companies. Disney has already stated that fans of 21
I It is also worth noting that Cinemablend is not the only news site which reports these predicted layoffs. Last month, the International Business Times reported that up to 10,000 employees could lose their jobs after the merger, with Fox employing 22,400 people worldwide. The Hollywood Reporter also pointed out that "there will be bloodshed" as soon as the merger is finalized:
Disney has promised $ 2 billion in cost savings, with more than 4,000 layoffs expected (although the Disney Skeptic Rich Greenfield announces the number 5,000 to 10,000 over time). It is more difficult to predict potential layoffs within the Fox Film Studio itself, with its approximately 3,200 employees, but it is expected that the cuts will be particularly deep, especially in overlapping areas such as marketing, distribution and home entertainment.
N or Disney Also, no fax has come forward and announced these possible layoffs, so nothing is certain yet. With Fox as well as Marvel and Lucasfilm under one roof, the merger does not guarantee that all Fox employees will lose their jobs. However, it does not guarantee that they can keep them. With a fusion of this size, thousands of people compete for the same jobs, and Disney is likely to want to employ only so many of them, no matter how talented or experienced they are. Cinemablend reports that nobody is immune to layoffs. Whether more than 7,000 people will be unemployed after the merger or not will only show the time.
What do you think about the Disney Fox merger and how does it affect the employees? Share your thoughts with us!
Source: Cinemablend, IBT, The Hollywood Reporter