Twenty-first Century Fox layoffs, on the record
Every job cut, severance charge and restructuring Twenty-first Century Fox reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 21,500 to approximately 22,400.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 21,500 | June 30, 2016 |
| 10-K for 2017 | approximately 21,700 | June 30, 2017 |
| 10-K for 2018 | approximately 22,400 | June 30, 2018 |
Job cuts, severance and restructuring
Our summaryRecorded restructuring charges primarily tied to a voluntary resignation program offered to employees across all segments as part of efforts to transform functions and reduce costs.
Word for word“In fiscal 2016, the Company recorded restructuring charges of $231 million primarily related to a voluntary resignation program extended to certain employees across all segments as part of ongoing efforts to transform certain functions and reduce costs.” 10-K for 2016
Our summaryRecorded contract termination costs at STAR India for its Champions League Twenty20 cricket program rights contract, with the contract terminated as of June 2015.
Word for word“In fiscal 2015, the Company recorded restructuring charges of approximately $ 160 million reflecting contract termination costs at STAR India (“STAR”) related to a program rights contract with the Board of Control for Cricket in India (“BCCI”) for the Champions League Twenty20 (“CLT20”) cricket tournament through 2018.” 10-K for 2016
Our summaryRecorded net restructuring charges for cost structure efficiency initiatives at the Cable Network Programming and Television segments, within total fiscal 2015 restructuring charges.
Word for word“Also included in the net restructuring charges of $232 million were the charges to implement cost structure efficiency enhancement initiatives at the Cable Network Programming and Television segments.” 10-K for 2016
Our summaryRecorded net restructuring charges for contract termination costs tied to cost structure efficiency initiatives, primarily at the DBS segment, partly offset by a facility termination obligation adjustment.
Word for word“In fiscal 2014, the Company recorded net restructuring charges of $52 million reflecting $81 million in contract termination costs related to cost structure efficiency enhancement initiatives primarily at the DBS segment partially offset by an adjustment to facility termination obligations.” 10-K for 2016
Our summaryRecorded restructuring charges primarily tied to management and employee transitions and restructuring at several business units in the Cable Network Programming and Filmed Entertainment segments, including Fox News Channel.
Word for word“In fiscal 2017, the Company recorded restructuring charges of $224 million primarily related to costs in connection with management and employee transitions and restructuring at several of the Company’s business units at the Cable Network Programming segment, including Fox News Channel, and Filmed Entertainment segment.” 10-K for 2017
Our summaryRecorded net restructuring charges, mainly for contract termination costs at STAR India for the CLT20 cricket rights and cost structure efficiency initiatives at the Cable Network Programming and Television segments.
Word for word“In fiscal 2015, the Company recorded net restructuring charges of $232 million of which approximately $ 160 million reflected contract termination costs at STAR India (“STAR”) and t he balance related to the implementation of cost structure efficiency enhancement initiatives at the Cable Network Programming and Television segments.” 10-K for 2017
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-06-30 | $231 million | $623 million |
| 2017-06-30 | $224 million | $178 million |
| 2018-06-30 | $28 million | $111 million |
Twenty-first Century Fox has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Twenty-first Century Fox’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2018-08-13. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.