⁍ The overhaul would result in thousands of layoffs across Warner Bros Studios and TV channels like HBO, TBS and TNT.
⁍ Earlier in August, WarnerMedia said it would cut jobs as part of a broad restructuring focused around its HBO Max streaming business.
– WarnerMedia is preparing to lay off thousands of employees as part of a restructuring aimed at cutting costs by as much as 20%, the Wall Street Journal reports. The changes would affect employees at Warner Bros. Studios, as well as at HBO, TBS, and TNT channels. “We shared with our employees recently that the organization will be restructured to respond to those changes and prioritize growth opportunities, with an emphasis on direct-to-consumer,” the company said in a statement to Reuters. Earlier this month, WarnerMedia said it would cut jobs as part of a broad restructuring focused around its HBO Max streaming business.
Source: https://www.reuters.com/article/us-at-t-warnermedia-restructuring/warnermedia-plans-thousands-of-job-cuts-in-restructuring-wsj-idUSKBN26T3EW