As a long-time movie industry observer and critic with over two decades of experience under my belt, I’ve seen my fair share of restructurings and layoffs. But the recent wave of downsizing efforts sweeping across Hollywood in 2024 has left me feeling a sense of unease and sadness.
Approximately 30 employees at Fox Entertainment are being let go as part of the company’s recent organizational overhaul.
“Although there are numerous thrilling elements involved in shaping our future, identifying redundancies and adapting to shifting priorities within our team is one of the most challenging tasks during a restructuring process. Regrettably, we had to let go of some valued colleagues today as part of this realignment. This decision was solely driven by the need to align our business functions, pursue aggressive growth plans, and adapt to current industry trends.” (Rob Wade, CEO of Fox Entertainment)
Based on my years of experience in business leadership and observing the industry’s evolution, I strongly believe that focusing on efficiency and effectiveness is crucial for any organization’s growth. However, what sets truly successful companies apart is their commitment to creativity as the driving force behind their innovations.
In response to Hollywood’s ongoing recovery from COVID-19 and the aftermath of the WGA and SAG-AFTRA strikes in 2023, Warner Bros. Discovery initiated a large-scale reduction in workforce as of Tuesday. Approximately 1,000 employees were let go from various departments including finance, business affairs, production, and streaming sectors, according to an informed source.
Disney reached its target of laying off 7,000 employees by the end of May, primarily affecting media divisions with minimal impact on parks. A source revealed that Disney intends to carry out additional job cuts internationally in the future. Ten days prior, Pixar announced layoffs, dismissing 175 employees which equated to 14% of its workforce.
Among the prominent executives affected is Les Eisner, longtime senior VP of corporate communications for Fox Entertainment. The industry veteran had been in the role since 2016, and during his first stint on the Fox lot from 2004 to 2007, Eisner ran communications for Fox’s Twentieth Television syndication division.
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2024-07-19 00:47