Walt Disney Co. has started layoffs at its studio operations and those of 20th Century Fox, according to media reports.
Entertainment industry publication Variety reported that the cuts were being made in the film staff although the Burbank entertainment and media giant has not officially said which departments will be impacted by the layoffs. The distribution division is expected to be among the hardest hit, Variety said. It is unclear how many layoffs may occur in the Valley area.
This is the second round of layoffs since Disney closed on its $71.3 billion acquisition of the film and television assets of Fox in March. Termination notices started going out on March 21. Among the first jobs cuts were senior-level executives in film distribution and marketing on the Fox lot.
Disney is not expected to do mass layoffs on the television side soon. Fox’s TV network groups — FX Networks and Nat Geo — were distinct from Disney’s existing operations so there was no immediate duplication, Variety reported.
Variety attributed to a senior source that there is no target number for layoffs nor a timetable.
Shares in Disney (DIS) closed up $1.48, or more than 1 percent, to $134.68 on the New York Stock Exchange.
Mark Madler is a reporter at sister publication San Fernando Valley Business Journal, where this story first appeared.
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