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IPFS News Link • Employee and Employer Relations

As Layoffs Arrive, Disney and Fox Staff Voice Frustrations

•, by Paul Bond

At Walt Disney's shareholder meeting two weeks ago, CEO Bob Iger spoke of the "long-term value" inherent in the company's pending acquisition of most of 21st Century Fox. "We will hit the ground running as soon as the deal closes," he told attendees. 

The flowery language, arguably befitting of such a monumental deal, was typical of the comments coming from Disney for more than a year as regulators slowly approved the partial merger.

Nary a public word was spoken about layoffs, but less than two days after the $71.3 billion deal officially closed at two minutes past midnight ET on Wednesday, it was clear that hitting the ground running means, at least initially, lots of lost jobs.

"Today I hate everybody," says one nervous employee who worries for his job. "I hate Disney for buying Fox, I hate Fox for selling, I hate the politicians for allowing it to happen."