Thursday, June 02, 2016

Layoffs, Buyouts

Variety reports.

Between 300 and 400 TV and film employees have taken voluntary buyouts at 21st Century Fox, part of an effort to cut $250 million annually from the conglomerate's expenses.

According to insiders, the number represents about half of the workers who were offered the buyout. Even so, there aren't any layoffs planned, the insider said Wednesday, as other cost-saving measures can make up the difference.

The conglomerate has about 20,000 employees worldwide and said in February that it would take steps to rein in spending. ...

Belt tightening appears to be going on in various corners of Hollywood.

Even in Los Angeles animation, where employment numbers have been rising for several years, a lot of artists work as daily employees, or under unit rates. That way, when the projects are completed, Nickelodeon or Warners or Disney TV Animation can rid themselves of those storyboard artists and designers with a snap of the fingers.

There might be a record amount of work and experienced staff is increasingly difficult to come by, but that doesn't mean that our fine, entertainment conglomerates won't squeeze schedules and accompanying pay rates to keep costs down.


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