As many as 400 staffers in television and film have accepted voluntary buyouts at 21st Century Fox, according to a report in Variety. The number, which is reportedly between 300 and 400, represents about half of those who were offered the option, the story reports, citing insiders.
“Fox initiated the buyout program as part of a company-wide effort to cut $250 million from its budget,” Variety reports. “Fox currently has no plans for layoffs. The company believes it can potentially lower expenses in other ways beyond staffing reductions.”
The report adds: “Most of the buyouts took place at the company’s domestic operations, with the bulk of those coming from its Los Angeles offices.”