Warner Bros. Discovery Announces Layoffs for Nearly 1,000 Employees, Single-Digit Reductions in Max Staff
A recent round of job cuts has impacted Warner Bros. Discovery, with fewer employees affected compared to the significant layoffs carried out under the leadership of David Zaslav last year.
Sources reveal that nearly 1,000 employees are set to lose their jobs in various departments as part of a new cost-cutting initiative at Warner Bros. Discovery. The sectors affected include finance, business affairs, production, and the streaming platform Max. The majority of the layoffs are concentrated in the finance division, with less than 10 employees from Max impacted by the decision.
At the time of reporting, not all employees subject to the layoffs have been officially notified. Warner Bros. Discovery has yet to provide a comment on the matter.
These job cuts are the latest in a series of downsizing efforts at Warner Bros. Discovery following the merger between Discovery and WarnerMedia in April 2022. The merger led to the formation of the new company, resulting in thousands of job losses. Layoffs have continued sporadically throughout 2023, exacerbated by challenges in the streaming industry and labor strikes in Hollywood.
Warner Bros. Discovery recently launched its combined streaming service, Max, on May 23, 2023. The company has signaled a shift in its content strategy, with several upcoming original series, such as DC’s “The Penguin,” “Welcome to Derry” (an “It” prequel), and a “Harry Potter” TV adaptation, rebranded as HBO shows for their initial release on the cable channel.
The company is expected to reveal its latest subscriber numbers for its streaming services during the release of its second-quarter earnings on August 7.
The news of the layoffs was first reported by Deadline.
These developments underscore the ongoing challenges and restructuring within Warner Bros. Discovery as it navigates the evolving landscape of the entertainment industry.
