NEWS

Fox employees offered payouts for voluntary redundancy

Published on: 2nd February 2016

The company is seeking $250m worth of staff cuts.

centuryfox480Employees 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 in fiscal 2017.

“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 spokesman said.

Another company source said that the Rupert Murdoch-controlled film and TV company is targeting $250m in cost cuts in fiscal 2017, which starts in July.

As of 30th June 2015, Fox had approximately 20,500 full-time employees.

The news was first reported by the Wall Street Journal.

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