Fox seeks $250m worth of staff cuts
09:32, 2 February 2016
LONDON. KAZINFORM Employees at two major divisions of 21st Century Fox are to be offered "generous" benefit packages if they resign voluntarily as the company aims to reduce costs by about US$250m.
“Some colleagues from Fox Networks Group and 20th Century Fox will be offered a generous benefit package if they opt to voluntarily leave the company,” a Foxspokesperson said in an emailed statement.
The Rupert Murdoch-controlled film and TV company is targeting $250m in cost cuts in fiscal 2017, which starts in July, another company spokesman said by phone.
The news was first reported by the Wall Street Journal. Fox had about 20,500 full-time employees as of 30 June 2015.
Source: The Guardian