In an internal memo acquired by Broadcasting &
Cable to all employees at FX, Fox Sports Net,
Fox Family Channel, National Geographic Channel and other outlets, Fox Cable Networks CEO
Jeff Shell outlined a number of new cost-cutting efforts, including a hiring freeze for
both new and replacement positions and no first-class airfare.
Other measures include no company-paid holiday parties and no business
As for subscriptions, the programmer will only pay for the Los Angeles Times, The New York Times, USA Today, The Wall Street
Journal and trade magazines.
Others must be canceled or "paid for personally."
"In the wake of
the events of the last month, along with the continually worsening economy and advertising market,
we have been forced to re-examine the cost structure of Fox
Cable Networks and face certain economic realities of our business," Shell said in
the memo to employees.
"It is our goal to meet our financial objectives by significantly reducing what I deem to be nonessential costs while still attempting to preserve our most important asset, that of our employees."
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