Warner Bros. Discovery (WBD), the US entertainment giant, is laying off nearly 1,000 employees in a fresh attempt to cut costs. This follows a series of job cuts across the company since its formation in April 2022 through the merger of Discovery and WarnerMedia.
The layoffs will impact various departments, with the finance department bearing the brunt. Production, business affairs, and the streaming platform HBO Max will also see staff reductions. While the exact numbers are unknown, less than 10 employees from HBO Max were reportedly let go.
Warner Bros. Discovery, like many companies in 2024, is facing economic pressures. The entertainment conglomerate is aiming to streamline its operations and reduce expenses.
WBD is not alone. Several media and technology companies, including Paramount, NBCUniversal, and Netflix, have also implemented job cuts this year due to economic downturns, restructuring plans, and a shift toward automation.
The layoffs might indicate a change in Warner Bros. Discovery’s streaming strategy. The company recently rebranded some of its upcoming series, including the “Harry Potter“ TV adaptation and DC’s “The Penguin,” for debut on the traditional cable channel HBO.
This latest Warner Bros. Discovery layoff highlights the ongoing challenges faced by the entertainment industry. As companies grapple with economic pressures and changing consumer habits, workforce reductions are becoming a more common occurrence.
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