Fox News is restructuring its business operations, a move that will trim almost three percent of its workforce.
“As Fox News Media has evolved into a streamlined multi-platform organization, we are realigning several functions and restructuring various divisions in order to position all of our businesses for ongoing success,” the network said in a statement.
No cuts will be made to on-air talent.
Deadline reports the cutbacks due to COVID-19 are on the hair and make-up department.
Guests will no longer receive makeup and hair services; only anchors and contributors will because of concerns over safety amid the pandemic.
Fox Corp. suffered a 73.3 percent decline in Q4 (ended June) net to $122M on a four percent dip in revenues to $2.4B.
Ad revenues fell 22 percent at the FOX Television Stations, There also were fewer live events at FOX Sports and fewer hours of scripted programming at FOX Entertainment due to the pandemic.
CEO Lachan Murdoch remains upbeat. "We entered the COVID-19 crisis on sound operational and financial footing and we expect to emerge from this pandemic more competitive, more focused and even more strongly positioned to deliver value for our viewers, partners and shareholders in the years ahead," he said.
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