Fox Entertainment is facing layoffs as part of a company-wide restructuring, The Wrap has learned. A reported 30 members have been laid off from the company.
“Please know, these decisions were made with the utmost care and consideration and are in no way a reflection of anyone’s performance or contributions,” a note obtained by The Wrap from CEO Rob Wade said. “This step was solely related to aligning our business operations, ambitious growth strategies and the dynamics of our industry today.”
“In completing our restructuring, I’m confident that we have the team in place to achieve remarkable things, as we increasingly invest in original entertainment and solidify our position as a global studio and distributor,” the memo continues.
More to come …
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