FOX News Plans Trimming Jobs

Fox News Media expects to cut less than 3% of its overall staff as the unit, the financial engine of parent Fox Corporation, works to make its operations more efficient after a period of expansion, reports Variety.

“As we have evolved into a streamlined multiplatform organization, we are realigning several functions and restructuring various divisions in an effort to meet the creative and business needs of a modern media company,” saidFox News Media CEO Suzanne Scott, in a memo to staffers.. The number of people affected is said to be fewer than 80, and the move will include positions of all ranks, except for on-air anchors, reporters and contributors.

Many media companies have had to grapple with tougher economics put in place by the coronavirus pandemic, but Fox News’ move is said to be based on a desire to operate more efficiently as the company has, under CEO Suzanne Scott, grown to encompass new digital and broadband operations.

Fox News’ hair and makeup staffers are said to be the most affected, with the function of that operation having changed most noticeably in recent months. Guests will no longer receive make-up and hair services, which are being relegated to anchors and contributors. All affected employees are said to be receiving enhanced severance and benefits packages.

In Fox Corporation’s most recent fiscal quarter, the company saw a 4% decline due to a slump in advertising, sports telecasts and scripted programming – all results from the pandemic.