Warner Bros. Discovery Layoffs: Firm To Fire Nearly 1,000 Employees

The affected areas include finance, business affairs, production, and positions at the streaming platform Max. The report indicates that the finance division bore the brunt of the layoffs

Warner Bros. Discovery Layoffs: This follows a recent round of layoffs at CNN, owned by WBD, where approximately 100 employees were let go

Source : Warner Bros. Discovery

Warner Bros. Discovery (WBD) has reportedly started another round of layoffs, albeit on a smaller scale than the significant workforce reductions implemented under David Zaslav's leadership last year.

According to sources cited by Variety, WBD is set to lay off nearly 1,000 employees across various sectors as part of a new cost-cutting initiative. The affected areas include finance, business affairs, production, and positions at the streaming platform Max. The report indicates that the finance division bore the brunt of the layoffs, while fewer than 10 Max employees were impacted in total.

This follows a recent round of layoffs at CNN, owned by WBD, where approximately 100 employees were let go. CNN Worldwide CEO Mark Thompson stated that this affected approximately 2.9 per cent of its workforce, which totals 3,500 employees.

These layoffs represent the latest in a series of workforce reductions at Warner Bros. Discovery brands. Following the closure of the merger between Discovery and WarnerMedia in April 2022, which formed the new company, thousands of employees were let go. Throughout 2023, layoffs occurred intermittently, exacerbated by challenging periods for WBD's streaming operations and the broader Hollywood streaming sector. The company also faced additional cuts during the WGA and SAG-AFTRA strikes last summer, impacting HBO and Max notably.

Warner Bros. Discovery launched its combined streaming service HBO Max and Discovery+ under the brand Max on May 23, 2023. Recently, the company has signalled a strategic shift between streaming and traditional television, as several upcoming original series for Max, such as DC’s “The Penguin,” the "It" prequel “Welcome to Derry,” and the “Harry Potter” TV adaptation, will now premiere as HBO shows on the cable channel.

WBD is anticipated to disclose its latest subscriber count for its streaming services when it announces its second-quarter earnings results on August 7.