AM I NEXT? NO LOVE AT FOX NEWS MEDIA

New York, New York-based Fox Media, an iconic umbrella for several Fox-branded entities, has announced a reorganization to streamline and modernize the enterprise, redeploying assets into profitable opportunities. Although no specific headcount is available for this reduction in force, it is believed that less than three percent of the company-wide workforce will be impacted.

This is a long-overdue realignment and de-duplication of current operations in the ordinary course of business and not attributable to the ongoing global pandemic.

A company spokesperson noted, “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.”

FOX News Media operates the FOX News Channel (FNC), FOX Business Network (FBN), FOX News Digital, FOX News Radio, FOX News Headlines 24/7, FOX News podcasts, and the direct-to-consumer subscription streaming service FOX Nation.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn’t happened yet, doesn’t mean it won’t. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT TECHNICOLOR

Paris, France-based Technicolor, the iconic color motion picture film processor and now a French multinational corporation that provides services and products for the communication, media, and entertainment industries, has announced layoffs at its CD/DVD Disc manufacturing facility in Huntsville, Alabama. The layoffs will impact 100 employees. According to employees, the plant was to be closed in 2019

It appears that Technicolor wants to exit the Disc manufacturing business.

Coincidently, France-basedTechnicolor Home Entertainment announced that they will be closing their one-million-square-foot Olyphant Pennsylvania compact disc duplication and packaging plant and laying off the remaining workers in 2018. Approximately 160 workers are affected. Technicolor's spokesperson, Lane Coope, said in a published report, “In an ongoing assessment of market conditions and operational requirements to remain competitive in our key areas of business, Technicolor will be ceasing packaging and replication operations at its Olyphant facility.”

The real issue is a disruption in Tehnicolor's business model that sees CD/DVDs being obsoleted by on-demand streaming technologies.

In June 2020, Technicolor announced that it has filed for Chapter 15 bankruptcy which allows a foreign debtor to file for bankruptcy in the United States court system. Technicolor attributed its financial problems to the COVID-19 pandemic and noted, “Compounding matters, the COVID-19 pandemic has caused theatrical releases to be put on hold and production timelines to be pushed back, significantly depressing Technicolor’s revenue from production services."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT CONDÉ NAST

New York, New York-based Condé Nast, the international media and publishing company, has announced a reduction in force affecting approximately 100 employees and furloughing another 100 employees. Executives and other highly-paid individuals are expected to take a pay cut. CEO Roger Lynch who joined the company in 2019 from his former position as the CEO of Oakland, California-based Pandora, the well-known music selection and streaming service, messaged employees...

To our Condé Nast team,

"As I’ve shared in my recent emails, we’ve been working to assess the impact of the COVID-19 crisis on our business and to reset our financial plan for the year. That work has involved modeling several different scenarios. While we aren’t as solely dependent on print and digital display advertising as some of our competitors, globally, we will still see a substantial impact from this crisis on our business. The ELT and I recognize it’s very likely our advertising clients, consumers, and therefore our company, will be operating under significant financial pressure for some time. As a result, we’ll need to go beyond the initial cost savings measures we put in place to protect our business for the long term."

"Potential job and role eliminations: Many of you have been asking whether there will be any job eliminations. While we consider it a last option, we do expect there will be some role eliminations as part of these efforts. We’ve already closed several hundred open positions and limited hiring only to the most critical roles. Role eliminations are never something we take lightly, and we’ll continue to work to limit this as much as possible."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?