Fired Fox Executive Talks About Job Losses After The Disney Deal

Disney 21st Century FoxDuring an interview with Variety, 20th Century Fox Film chairman and CEO Stacey Snider discussed the job losses that will occur after the pending deal between Fox and Disney is complete.

While Disney’s pending acquisition of 21st Century Fox’s entertainment assets primarily has fans excited about the prospect of seeing X-Men and Fantastic Four characters join Marvel Studios’ film universe, the deal will result in thousands of job losses at both companies once completed. Among those who will not move into a new position at Disney is 20th Century Fox Film chairman and CEO Stacey Snider, who explained what it has been like running the company and comforting employees with the knowledge of the looming job cuts:

“It’s been really challenging to manage a company for almost a whole year knowing that these cuts are coming. Most of the employees at Fox have been there for decades. They’ve given most of their careers to Fox. Many of them are hanging on to see if there will be an opportunity at Disney. My job for the last year has also been chairman of human emotions and resident shoulder to cry on. There’s going to be a lot of job loss. However, and this is not to diminish the pain people will go through, but time waits for no one. This will not be the first or last consolidation the industry sees.”

Snider also discussed what the atmosphere at the company has been like with some employees set to move to Disney after the deal is complete while others are concerned about losing their job:

“There’s definitely been some jockeying for positions, and I think everyone at the company has had a combination of good days and bad days. There are days when they are being consoled, and then they’re the ones consoling someone else. When you have a bad day, I’ve said to people, either throw yourself into your work or if that’s not working, leave, go work out. This is an extraordinary situation, and no one is going to be docked for missing an hour or two. Do the best you can, and be kind to each other. That advice is followed by some people some days and other people other days, and sometimes it just gets completely flushed down the f–king toilet.”

Twentieth Century Fox president Peter Rice recently told his employees that he pending Disney deal is set to close on January 1st of next year.

Source: Variety

Sebastian Peris

Sebastian Peris

Canadian film buff, political junkie, comic book geek, and board game enthusiast.

  • Darthmanwe

    That’s why anti trust laws ( used to) exist. To protect the average employees AND the consumer base.

    Of course, the last real anti trust decision in US was made against Microsoft and that’s because the guy at the helm at the time refused to cave under some of US intelligence’s demands.

    Since then, anyone with money can pay lobbyists a lot of green to jam anything they want through that joke of a political and judicial system.

    Behold, the american democracy : Money in Politics at its finest.

    This nothing though. The next big hit is gonna be on the VFX industry, Disney was already lowballing VFX houses and studios due to their market share on all VFX projects issued, now they will be able to bankrupt VFX houses for movies if they want.

    And then movie tickets are gonna be 50 dollars a piece, and Disney merch will be tripling in price.