Read from CBR:
sources claim that Warner Bros. will be initiating layoffs on a rolling basis between the beginning of August and Labor Day, starting with smaller groups. Those layoffs will continue exponentially throughout September and October and are intended to finish before Oct. 31 as a way to deal with the "bloat" at Warner Bros., which has been noted by those coming from Discovery following the merger of the two companies. Layoffs will reportedly include marketing, PR, distribution, sales, legal and creative, though one source states that most departments at Warner Bros. will be affected. The intention seems to be to reduce costs overall, with one business leader calling the reductions "painful" and "to the bone."
Warner Bros. Discovery recently revealed the details of its second financial quarter, revealing that the company had taken a net loss of $3.4 billion, with $1 billion attributed to the restructuring costs of the merger. It was also detailed that the studio had lost $825 million on content and $208 million on employee termination.
sources claim that Warner Bros. will be initiating layoffs on a rolling basis between the beginning of August and Labor Day, starting with smaller groups. Those layoffs will continue exponentially throughout September and October and are intended to finish before Oct. 31 as a way to deal with the "bloat" at Warner Bros., which has been noted by those coming from Discovery following the merger of the two companies. Layoffs will reportedly include marketing, PR, distribution, sales, legal and creative, though one source states that most departments at Warner Bros. will be affected. The intention seems to be to reduce costs overall, with one business leader calling the reductions "painful" and "to the bone."
Warner Bros. Discovery recently revealed the details of its second financial quarter, revealing that the company had taken a net loss of $3.4 billion, with $1 billion attributed to the restructuring costs of the merger. It was also detailed that the studio had lost $825 million on content and $208 million on employee termination.
