Disney Expected To Lay Off Thousands Of People After Fox Buyout

Disney has finally, officially closed its $71 billion deal to buy the majority of Fox's entertainment assets. As part of the acquisition, Disney is expected to cut "thousands" of jobs as it eliminates duplicate jobs as part of the massive the restructuring, according to multiple reports.Disney CEO Robert Iger sent a memo to staff regarding the Fox deal, and in it he acknowledged that tough times lie ahead. CNBC obtained the memo."I wish I could tell you that the hardest part is behind us; that c