As a long-time media industry observer and former employee of several major studios, I can’t help but feel a pang of sadness and concern as yet another round of layoffs hits Warner Bros. Discovery (WBD). Having lived through multiple restructurings and mergers in my career, I understand the business realities that drive these decisions, but it never makes the process any easier.
I’ve recently learned that Warner Bros. Discovery has announced another round of job reductions. Fortunately, the scale of this latest cutback appears smaller than the extensive layoffs that occurred under the leadership of David Zaslav in the previous year.
According to our reliable sources, approximately 1,000 employees are expected to be let go from various sectors at WBD in an upcoming cost-reduction measure. This affects teams in finance, business affairs, production, and Max, the streaming service. The majority of these terminations will occur within the finance division, while only a small number, under 10, of Max staff members are involved.
Some employees who are part of the layoffs haven’t been notified yet when this announcement was made public.
Warner Bros. Discovery did not immediately respond to request for comment Tuesday.
Warner Bros. Discovery brands have recently let go of a large number of employees, marking the latest round of job cuts following the merger between Discovery and WarnerMedia in April 2022. The new company was formed as a result of this merger, and layoffs continued throughout 2023 during challenging periods for WBD’s streaming business and the industry as a whole. Additionally, labor strikes by the Writers Guild of America (WGA) and Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) last summer impacted HBO and Max significantly.
Starting May 23, 2023, Warner Bros. Discovery merged its streaming platforms HBO Max and Discovery+ into one service named Max. Lately, there have been signs of a change in strategy from the company regarding the release of their original series. Some upcoming productions like “The Penguin” based on DC Comics, the “It” prequel “Welcome to Derry,” and the “Harry Potter” TV adaptation were initially intended for Max but have been reclassified as HBO productions. Instead of premiering on the streaming platform first, these shows will debut on cable television first.
WBD will reveal the current number of its streaming service subscribers when they announce their second-quarter earnings on August 7th.
Deadline first reported news of the layoffs.
Read More
- GEAR PREDICTION. GEAR cryptocurrency
- PBX PREDICTION. PBX cryptocurrency
- EUR INR PREDICTION
- CKB PREDICTION. CKB cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- Skull and Bones: Gamers’ Frustrations with Ubisoft’s Premium Content Delivery
- ‘Starting 5’: LeBron James, Jayson Tatum and Jimmy Butler Among NBA Players Featured in Obamas-Produced Sports Series
- Michelle Yeoh Will Not Appear in ‘Avatar 3,’ Says James Cameron: ‘She’s in 4 and 5’
- BSW PREDICTION. BSW cryptocurrency
- TANK PREDICTION. TANK cryptocurrency
2024-07-17 00:46